Even though Alex grew up in poverty without an education, this has not stopped him from fulfilling his dream of achieving a better life for him and his family.
Currently, Alex is an entrepreneur. He sells charcoal in Ekumfi-Twa (near Cape Coast). His business has grown substantially since he started it six years ago. He uses the income from his business to support his eight children.
Alex has identified that there is growing demand for his product. However, he is unable to meet this demand due to limited capacity. So he aims to use his loan to purchase additional firewood to make more charcoal to sell.
With the new profits from his expanded business, Alex wants to ensure that all his children will be given the opportunity to further distance their family from poverty.
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.