Isaac E. is married and has four children. He has received schooling through to Junior High education. Isaac sells used clothing at Kotokoraba, which is the heart of Cape Coast. He has been in this business since 1998. His wife is a trader.
Isaac uses his income to feed the family and to pay for utility bills. He will use the loan to increase his capital to buy used clothing in larger quantities for resale. With the new profits from his expanded business, Isaac plans to help his wife with the renovation of their house.
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.