Abena prepares and sells doughnuts in and around the town of Elmina. She has been making these tasty treats and offering them for sale for about five years now. Abena and her husband have two children, and she uses her income to support her husband in paying the children’s school fees and supporting other family expenses.
Abena will use her loan to purchase a greater quantity of the necessary ingredients to run her doughnut-making enterprise, such as flour, sugar, and cooking oil.
With the new profit from her expanded business, Abena plans to save money and to continue to grow her business in the future.
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.