Araba is an entrepreneur although she has received no prior formal education. For the past ten years, she has prepared and sold "banku," a traditional Ghanaian dish made using fermented corn/cassava dough that is mixed proportionally and cooked in hot water into a smooth whitish consistent paste. Araba sells her banku in Esiam, near Cape Coast. She is married with three children and her husband works as a farmer. Araba generally uses the profit from her business to help her husband cover the family’s general expenses and to pay their children’s school fees.
Araba is requesting a loan to purchase a greater quantity of cassava and maize to increase her current inventory levels. Her loan will allow her to sell greater quantities of her tasty banku. In the long term, Araba plans to reinvest the profit from her loan back into her business, thus helping her expand and meet rising customer demand.
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.