Veronica C. is a hairdresser who owns a beauty salon near the Elmina police station. Veronica has received a junior high school education. She is single and has no children. Veronica has been a hair dresser since 2005. She is responsible for paying the rent, utility bills and other financial expenses.
Her loan will be used to buy a variety of hair products to meet the demands of her customers who come to the salon. She hopes to use the new profits from her business to save towards a house she wants to build so that she can stop renting apartments.
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.