Although she has received no prior formal education, Ama is an entrepreneur with multiple businesses. She sells used clothing and also prepares and sells gari, a traditional Ghanaian snack better known to the rest of the world as cuscus. She operates these businesses in Emissakrom, near Cape Coast, and has been involved in both enterprises for about four years.
Ama and her husband, who is a farmer, have five children. The proceeds from her businesses go toward helping her husband to cover the family’s general expenses and to pay their children’s school fees.
Ama plans to use her loan funds to increase her current inventory levels of both clothing items and gari ingredients, hence allowing her to sell greater quantities of both used clothing and gari.
In the long term, Ama plans to reinvest future profits into her business, thus helping her expand and meet the needs of rising customer demands.
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.