Esi operates a second hand clothing business in Asekai (near Cape Coast). Esi is a widow with 3 children. As the sole breadwinner in the family, Esi uses her income to provide for the entire family. Esi will use the loan to purchase increased amounts of second hand clothing, thus helping her to improve her overall sales. As a Junior High School graduate, Esi understands the importance of education in improving social conditions, thus she plans to use the profits from her expanded enterprise to ensure that all her children remain in school.
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.