Mercy is married and has five children. She has received schooling through junior high. Mercy sells foodstuffs at Santrokofi, Hohoe, which she has done for 17 years. Her husband is a petty trader. Mercy uses her income to help her spouse to educate their five children. Mercy will use the loan to buy more foodstuffs for sale to increase her profit for expansion. With the new profits from her expanded business, Mercy plans to save for her old age.
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.