After graduating from junior high school, James decided to set up his own phone business in Narkwa (near Cape Coast). With over two years of experience, he is currently looking to expand his enterprise further. Unfortunately, he is held back by a shortage of funds. This loan will be used to help him buy more phones for resale. He aims to use the profits from his business to help his wife (who is a trader) with the upkeep of their house, while ensuring that their three children are able to experience a better life.
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.