Dul S. has been a domestic tailor for three years. She also sews a small amount of cloth to be decorating products for sale. She generates an average income of $3 each day and has been running her tailoring business since early 2001.
Due to the lack of raw materials to support her business actions, Dul S. requested a loan in order to purchase a small amount of cloth to continue making the products to sell.
The other borrowers who have joined this loan are the following:
P. will use the loan to repair her husband's taxi.
S. will use the money to expand her business selling fish.
P. will use the loan to buy groceries 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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Success!! The loan was 100% repaid