Vincentia has been selling cloth and minerals (soft drinks) for the past twenty years at Hohoe. Vincentia has never been to school because she never had anyone to support her financially. She is a widow and has five children. Vincentia is responsible for all the monetary needs of her family. Her loan will be used to buy more cloth and introduce other soft drinks so that she can make more profit. She hopes to use the new profits from her business to enable her to educate her children to the university level.
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.