Emelia, a married mother of two, has been selling provisions in Effia Kumah near Takoradi for the past 20 years. Emelia's husband is retired and receives a pension that contributes to the family’s income, but she is responsible for supporting him in paying the family's general expenses.
Emelia's loan will be used to buy an increased quantity and variety of provisions to sell. She hopes to use the resulting new profits to further expand her shop.
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.