Charlotte sells rice in Akonoma (near Cape Coast), which she has been doing for 15 years. She has studied up to form four of middle school and is now married with 5 children. Her husband works as a carpenter. She uses the proceeds from her business to help her husband cover their family's general expenses. Her loan will be used to buy more rice, therefore allowing her to meet increasing customers' demands. She hopes to use the new profits from her business to further develop her food-selling enterprise.
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.