Eric sells refrigerators and stoves in Bukuruso (near Cape Coast). He has been educated through Primary School. He is married and has eight children. His wife is currently unemployed. Eric has been working in this enterprise for eight years now. As the sole provider in the family, he is responsible for paying the family's utility bills and their children's school fees. His loan will be used to increase his current stock levels. He hopes to use the new profits from his business to grow his refrigerator and stove enterprise and increase his capital base. In the long run, he wants to expand his business into neighboring villages.
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.