Mrs. Tuk is the person who is selected to be the team leader. She is a 42 year old married woman and the mother of two single children. One of her children is employed as a cleaner and has a formal salary each month. Her other child attends the local school.
Mrs. Tuk is a domestic worker in the port. FR. her job, she receives a profit of about $3USD per day to use in the daily expenses of the family. Her husband also works in the same occupation by her side. In order to increase her revenue, Mrs. Tuk would like to run a new business of selling many kinds of goods in front of her house. Because of the lack of working capital, Mrs. Tuk has decided to ask for a loan fund fR. HKL and Kiva to buy some items such as sweets, soft drinks, cooking ingredients, plastic products and other necessary inventory.
In the future, Mrs. Tuk hopes that with her income, she will expand her new selling business, and rebuild her existing house. She also hopes to support her children so they finish the high school level of education.
The other four borrowers are:
Mrs. Sun, a domestic laborer, who is applying for a loan to repair her broken house.
Mrs. Sun, 32, is a domestic worker who requests a loan to decorate her old house.
Mrs. Mar, a cleaner, is taking a loan to mend her house.
Mrs. Houn is a Khmer cake seller who requests a loan to buy more ingredients for making her Khmer cake.
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