Margaret is married and has 3 children. She has never attended school. Margaret sells ladies sandals in Soba, Hohoe, which she has done since 2007. Margaret recently decided to sells bowls in addition to her sandals to get extra income to support her husband who is a farmer. Margaret uses her income to assist her husband pay for their children school fees and the general family upkeep. Margaret will use the loan to purchase more bowls and also introduce the sale of children’s sandal so that she makes an even larger profit. With the new profits from her expanded business, Margaret plans to save for her old age.
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.