Monica is a small-scale seamstress who also sells eggs in Adenic Ro (near Cape Coast). She has had some form of formal education as she is a junior high school graduate. She is married and has 1 child. Her husband is a photographer. Monica has been working as a seamstress and egg seller for close to 3 years. Her income is used to help her husband pay the utility bills and their child’s school fees. She plans on using her loan to purchase an increased quantity of sewing supplies and eggs, thus allowing her to meet rising customer demands. She hopes to use the profits from her enterprise to fulfill her dream of buying a seamstress stand, hence helping her sell from a fixed location in the future.
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.