James is married and has 5 children. He has never received any basic schooling even though he wishes he had been to school. James sells locally made sandals in Hohoe market to make ends meet, which he has done for the past 11 years. His wife is a petty trader. James uses his income to pay for all the financial needs of his home and other close relatives. James will use the loan to purchase varieties of sandals and introduce the sales of male and children sandals as well. With the new profits from his expanded business, James intends to save the profit and give a better education to his children.
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.