Although she has received no formal education, Ernestina is an entrepreneur. She specializes in selling groceries in Asebu Ekrokul (near Cape Coast). She has been involved in this enterprise for four years. Ernestina is married and has six children. Her husband is retired.
As the sole breadwinner in the family, the proceeds from Ernestina's business normally go towards covering the entire family’s general expenses.
Ernestina wants to use her loan to increase her current inventory levels, hence allowing her to sell greater quantities of groceries. In the long term, Ernestina plans to reinvest future profits into her business, thus helping her expand and meet the needs of rising customer demands.
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.