Rose is a married woman and has five children. She has received schooling through basic level to junior high school. Rose is a petty trader and a farmer from Akpafu, Hohoe. She has been farming maize and rice for the past five years. She took out a loan to fry doughnuts and hawk them to assist her husband, who is a peasant farmer, pay for their children’s school fees. Rose also uses her income to feed the family. Rose will use this loan to purchase a gallon of oil, flour and margarine and store it for her business. Rose plans to save the new profit from her expanded business and put it back into the business.
Important Information About CRAN
Please note that Kiva considers loans to this Field Partner, CRAN, to be particularly HIGH RISK. This organization has had very serious delinquency problems brought about by problems with its credit methodology, local environmental shocks including a depletion of local fisheries in its core area of operation (Cape Coast and the Central Province), and insufficient follow up with late clients. Lenders to this business should be aware that there is an increased risk of not getting repaid on this loan due to the challenges facing the Field Partner.
CRAN's creditors - including Kiva - have entered into a new Restructuring Agreement (For more information, please see CRAN's Field Partner profile: http://www.kiva.org/partners/91 ). Kiva will extend its ongoing policy of allowing CRAN to continue to raise funds on the Kiva website. New funds raised will be used to make repayments on older CRAN loans via Kiva’s standard net billing process.