Samuel S. is married and has 4 dependents; his wife is a seamstress. He has received schooling through the junior high level. Since 1990, Samuel has sold TV motherboards and other electrical parts at Kisi near Elmina. Samuel uses his income to pay his family's rent and utility bills, his children's school fees, and other financial expenses. Samuel will use the loan to meet customers' growing demand by increasing the inventory of TV motherboards and other electrical parts for sale in his shop. With the new profits from his expanded business, Samuel plans to continue building the house he started for his 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.