Elizabeth is widowed and has four children. She sells second-hand cloth in Beahu near Takoradi, which she has been doing for five years.
Elizabeth is requesting a loan, which she will use to purchase increased amounts of second-hand cloth, thus aiding her to improve her overall sales. With the profits from her expanded business, she plans to further diversify the type of cloth that she sells, hence adapting to changing customer preferences. As the sole breadwinner in the family, Elizabeth uses her income to provide for the entire family.
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.