Theresa is a small trader in Soba, Hohoe community. She has received education only to the middle school level. She is a widow and has 4 children.
Theresa explained that her working capital was not enough to acquire more products, so she decided to take out a loan so she could produce palm oil which is on high demand now and will enable her make some money.
Theresa has been in the small trading business for the past 7 years. Since she is a widow and receives no help financially from anyone else, she is responsible for all the financial needs of her children and herself. Her loan will be used to buy palm fruits and increase her working capital for her trading business. She hopes to save her new profits from her businesses and put it towards her children's education.
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.