Joana A. M. has worked as a seamstress and trader in Elmina, Ghana for the past eleven years. She sells material, zippers, and other sewing notions. She is married with five dependents, and has received an education through junior high school. Joana’s husband works at a beach resort named Coconut Grove Hotel in Cape Coast. She uses her income to help pay for the family’s light bill and school fees. She is requesting a loan to purchase more sewing materials to sell, which will help her expand her business. Joana plans to reinvest new profits to ensure that her business carries on successfully.
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.