After graduating from junior high school, Rita decided to set up her own "Wakye" selling business (Wakye is a traditional Ghanaian dish made primarily from beans, rice and colored leaves). She prepares her Wakye on her own and proceeds to sell it in Dompoase (near Cape Coast). With over 5 years worth of experience, she is currently looking to expand her enterprise further. Unfortunately, she is limited due to a lack of funding. As a result, this loan will be used to help her purchase more rice and beans, thus enabling her to prepare and sell more of her tasty Wakye. She wants to use the profit from her business to help support her husband (who is a contractor) with the upkeep of their house while ensuring that their 2 children are able to experience a better life.
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.