Joseph is the owner of a drug store located in Narkwa (near Cape Coast). His earnings are generally used to help his wife (who is a teacher) support their six children. He has been involved in selling medicine for 12 years. He plans to use his loan to buy more inventory, which will help him sell more. He aspires to use his profits to better market his enterprise and to increase his existing working capital. He hopes that this strategy will allow him to expand his customer base.
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.