Mary Q. is married and has 2 children. She has received schooling through junior high. Mary sells used clothing at Abura, which she has done since about 5 years ago. Her husband is a carpenter. Mary uses her income to pay for housekeeping expenses since her husband takes care of the family's financial needs. Mary will use the loan as additional capital to enable her to increase the sale of used clothing to meet the increase in demand by her costumers. With the new profits from her expanded business, Mary plans to reinvest back for the expansion of her trade.
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.