Linda Y. is a single parent and has 2 children. She has received no formal education. Linda sells clothing at Coronation near Cape Coast, which she has done since 2004. Linda uses her income to pay for rent, utility bills and other financial expenses. Linda will use the loan as additional capital to enable her to buy more clothing to increase sales to meet the increase in demand by her costumers. With the new profits from her expanded business, Linda plans to save towards acquiring a piece of land for the building of the family house so that they can stop paying rent and also get a comfortable shelter for the 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.