Mary is married and has six children. She has never received any formal schooling. Mary sells in Likpe Bakua, Hohoe market, which she has done for six years. Her husband is a farmer. Mary uses her income to buy things for home like food and clothes. She will use the loan to buy gallons of palm oil from local producers and to re-sell in the market for food vendors and middle men. With the new profits from her expanded business, Mary plans to increase her working capital.
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.