Regina operates the provision store in the picture above and she also cooks food to sell at a village called Putubiw near Cape Coast. Some of the foods she cook are 'banku' (fermented corn dough), 'wakye' (beans and rice cooked together), and plain rice with tomato sauce, spicy black pepper and others. When given the loan she would use it to acquire an additional variety of provisions to sell, as well as tomatoes, beans and rice to enable her to cook in large quantities for resale. She is presently living with four dependents and as a responsible parent, she assists her spouse to provide the daily needs of her family. Any profit acquired from her increased income will be used to build a restaurant.
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.