Irene is a seamstress in Soba, a community in Hohoe. Irene has received education only to the middle school level. She is divorced and has one child.
Irene has been a seamstress for the past 9 years. She is responsible for her own general upkeep and that of her child. Her loan will be used to buy sewing threads, linen in bulk and other supplies necessary to run her seamstress business. She hopes to use the new profits from her expanded business to acquire a shop to work and sell from.
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.