Ernest A. is married and has three children. He has a senior high school education. Ernest sells mineral water, which he distributes to the retailers. Due to the perception that the water which runs in the taps is impure, people prefer to buy the mineral water which is popularly called 'Pure water' at Adisadel near Siwdo. He has done this since 2002. His wife is a trader. Ernest uses his income to pay for his children's school fees and his utility bills. Ernest will use the loan to purchase more bags of mineral water to meet the increase in demand by his customers. With the new profits from his expanded business, Ernest plans to start a building on his piece of land.
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.