Veronica is married to a sprayer. She has four children. She uses her income to help her husband pay household expenses, and to save for a rainy day. A junior high school graduate, Veronica currently sells yam tubers in Asekie (near Takoradi). With over four years of experience in this trade, Veronica sees an opportunity to expand her enterprise, but she does not have the working capital necessary to increase her stock. Her loan will be used to buy more yam tubers, indirectly helping her boost her overall sales. Veronica wants to make her business self-sustaining as soon as possible. As a result, she plans to channel the new profits from her expanded business back into her yam enterprise.
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.