Mary is single and has 4 children. She has received no formal education. Mary owns and operates a bakery in Ayensudu, which she has done for some time now. Mary uses her income to support herself and her children and save for their future. Mary will use the loan to purchase an increased quantity of ingredients and supplies necessary to operate her bakery and meet her customer’s demands. With the new profits from her expanded business, Mary plans to develop her bakery shop further and save for 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.