Mercy is married and has three children. She has received schooling through basic level to middle school level. Mercy is a petty trader as well as a food vendor who prepares and sells banku at Akpafu, Hohoe. She has done this for the past 16 years to support herself and her family. To prepare banku, she first prepares corn dough (maize that has been milled and left for a day) and cassava dough. She mixes the cassava and corn dough and cooks them into a porridge-like consistency form. To get the right consistency, she has to stir the mixture on a hot firewood stove. The texture of banku has to be fine, but firm. The accompanying dish can either be any kind of soup or sauce such as palm nut soup, groundnut soup or peanut soup, okra soup, or hot pepper sauce with fish of any kind.
Her husband is a farmer. Mercy uses her income to help her husband with the general upkeep of the home, as well as to support extended family members. Mercy will use the loan to purchase bags of cassava dough, palm fruits, a bag of rice, a gallon of oil, and a bag of onions. With the new profits from her expanded business, Mercy plans to save and increase her working capital so she can operate a bigger chop bar in the near future.
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.