Although he has received no prior formal education, Samuel is an entrepreneur. He is a tailor by profession. He primarily operates in Ekumfe-Twi (near Cape Coast). He has been involved in this enterprise for 40 years. Samuel is married and has 6 children. His wife works as a farmer. The proceeds from his business normally go towards helping his wife cover the family’s general expenses and to pay their children’s school fees.
Samuel wants to use his loan to increase his current inventory levels of sewing materials, hence allowing him to cater to more of his customers. In the long term, Samuel plans to reinvest future profits into his business, thus helping him 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.