Although she has received no prior formal education, Esther is an entrepreneur. She specializes in preparing and selling ‘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). She usually sells her ‘Banku’ in the Ankaful Prison area (near Cape Coast). She has been involved in preparing and selling ‘Banku’ for four years. Esther is married and has five children. Her husband works as a security guard. The proceeds from her business normally go towards helping her husband cover the family’s general expenses and pay their children’s school fees. Esther wants to use her loan to purchase a greater quantity of cassava and maize, thus increasing her current inventory levels. As a result, this will allow her to sell greater quantities of her tasty ‘Banku’. In the long term, Esther plans to reinvest the future profits back into her business, thus helping her expand and meet the 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.