Monica is married and has four children. She has received some schooling; she attended until the end of primary school. Currently, Monica sells plastic bowls and plastic containers in Hotopo (near Takoradi). She has been involved in this business activity for about three years. Her husband works with a rubber manufacturing company. Monica's income goes toward helping her husband pay for the family's general living expenses.
Monica will use the loan to increase her existing plastic container inventory. With the new profits from her expanded enterprise, Monica plans to develop her business further by venturing into new markets.
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.