Mrs. Chann and her husband are working in the same occupation: fish catching. They always go out of their house to fish in and around the Tunle Sap River. The couple makes an income around $4 per day to cover their daily expenses. Mrs. Chann and her husband will use this loan to purchase nets and other fishing implements so they can catch more fish.
In the prospective future, Mrs. Chann thinks that she will buy a new boat, build a comfortable house in which to live and support her children’s education.
The other borrowers are:
Mrs. Sem, a local fisherman, who is asking for loan as well. She requested a loan to buy nets to sustain her fishing activity.
Another Mrs. Sem, a fish catcher, is borrowing a loan to purchase nets.
Mrs. Khlauk is taking a loan to buy a variety of products for selling in order to increase her income.
Another Mrs. Chann is applying for a loan to purchase nets for fishing purposes.
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