Theresa K. is married and has 1 child. She has attended school through primary level. Theresa sells groceries such as biscuits, andcanned products. She also buys fish from the fishermen, brings them home for processing and preservation, and then sends them to the market for sale at Bantama, which she has done for a while now. Her husband is a teacher. Theresa helps support her husband in paying rent, utility bills and other basic expenses of the family. She will use the loan to purchase more groceries to meet the increase in demand from her costumers. With the new profits from her expanded business, Theresa plans to reinvest back into the business to increase her profit margin so as to meet the financial needs of her large family.
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.