Boakye deals in the general merchants in Hohoe market and surrounding towns in Hohoe. Boakye has received schooling but only to junior high school level. He is single. Boakye has been in the selling business for 8 years now. He is responsible for the general upkeep of himself and other family members. His loan will be used to buy cartons of torch lights, varieties of LED lights, and electrical plugs. He hopes to use the new profits from his expanded business to save to enable him acquire a shop one day.
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.