Francisca is a food vendor. She sells rice and porridge. She serves the porridge with milk, sugar, and bread at a Pedu station near Cape Coast. She is married to a mason and has five children. Francisca has been selling rice and maize porridge for 10 years. She uses her income to help her husband to feed, clothe, and pay school fees for her children. Her loan will be used to purchase bags of rice, maize, and flour to prepare her porridge and bread to sell. With the new profit, Francisca will expand her 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.