After graduating middle level school, Gloria decided to set up her own beauty salon business in Hotopo (near Takoradi). With over three years worth of experience, she is currently looking to expand her enterprise further. Unfortunately, she is limited due to a lack of funding. As a result, this loan will be used to help her to purchase more hair cream, hair extensions and a hair dryer to make her work easier.
She aims to use the profits from her business to help support the upkeep of her house whilst ensuring that her five children are able to experience a better life.
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.