Three people are requesting this small loan. They are all residents of Phnom Penh. They have selected Mrs. O. to be the group leader.
Mrs. O. is 50 years old. She is a humble women who earns a living as a local rice farmer. She has been in the farming business for fifteen years and is currently earning around $2 per day. Her husband has had a job as a construction foreman in the village for years. All four of Mrs. O.'s children are working with her husband's business building houses. Mrs. O. is applying for a loan to purchase bananas to sell for additional income, and also to grow rice crops during the rice dry season.
The other two borrowers are Mrs. P. and Mrs. T.. Mrs. P. is 42 years old. She is a farmer who would like a loan to support her farming business. (Mrs. P. was not available to photograph so her husband is in the photo instead.) Mrs. T. is a 58 year old widow who is requesting a loan to begin selling grocery items.
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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Success!! The loan was 100% repaid