Matilda P. sells clothing at Kotokoraba, which is the heart of the Cape Coast. Matilda has received junior high education, is married and has 3 children. Her husband is a commercial driver. Matilda has been selling clothing since 2005. She is responsible for paying housekeeping expenses since her husband takes care of the family’s financial needs. Her loan will be used to purchase additional goods in order to increase the sale of fabrics and other clothing to meet an increase in demand by her customers. She hopes to use the new profits from her business in order to reinvest and ensure 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.