Peter is a small scale carpenter in Aburansa (near Cape Coast). He has had some form of formal education as he is a middle school graduate. He is married and has three children. His wife is a petty trader. Peter has been working as a carpenter for close to 15 years. His income is used to help his wife pay the utility bills and their children’s school fees. He plans on using his loan to purchase an increased quantity of wood, thus allowing him to meet rising customer demands. He hopes to use the profits from his enterprise to develop his business further and ensure that all his children receive an 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.