Christina O. is a single parent and has 6 dependents. She has completed schooling through junior high. Christina has been selling bread, which she bakes herself, at Kisi near Elmina since 2002. Christina uses her income to pay for her childrens' school fees, as well as for rent, utility bills and other financial expenses. Christina will use the loan to increase her capital in order to purchase flour and other baking materials, which will enable her to increase production. With the profits from her expanded business, Christina plans to save towards building a house with her husband.
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.