Mercy is single and has one child. She has received schooling but only to junior high school.
Mercy sells ladies' sandals at Likpe Bakua, Hohoe, and has been doing this for a year now. Since she is responsible for herself and her child, Mercy uses her income for all their financial needs.
Mercy will use the loan to purchase ladies' sandals in bulk and introduce the sale of children's shoes. With the new profits from her expanded business, Mercy intends to save and get enough 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.