V., age 59, earns a living by selling breakfast foods in her home. Most of her clients are villagers who live near her house. She is a widowed mother who has three children who are married. One of her sons still lives in the family home and helps to support the family by selling car wheels. V. would like a loan for her son to use as capital to buy additional wheels for sale.
The other three borrowers are:
S. is a widowed woman selling ice blocks in her home and she requests a loan to buy a used motorbike to transport fish for sale.
V. is a grocery seller, applying for a loan to increase her stock of grocery items.
L. sells fresh fish in the market and she is requesting a loan to order more fish to sell.
About HKLHattha Kaksekar Limited is one of the largest and most successful microfinance institutions (MFIs) in Cambodia. The organization provides microfinance services to the poor, particularly women, in urban and rural areas. Kiva lenders’ funds will be used to expand the outreach of HKL’s financial services to a greater number of clients in rural areas of Cambodia.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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