To upgrade her family's standard of living, Toch has been running a business as a fish and vegetable seller in one market near her village. She has been in this business with her husband since 1995. Toch is successful in this business because she has good relationships with her customers and is experienced in this trade. She is able to earn approximately $5 per day to cover her family’s daily expenses.
Toch wants to see her business grow and earn more profits. She is requesting a loan through HKL, a Kiva partner, to expand her business. She will use this loan to purchase more fish and vegetables to satisfy her clients. She has chosen HKL because it provides good services, lower interest rates than other banks, and long-term periods for repaying her loan. She is hoping that this loan will allow her to expand her business. She plans on repaying the loan punctually. Toch's dream in the future is seeing her children get a good education and have good jobs. This is her first loan with HKL.
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