Among them, Mrs. Kheng was chosen to be a leader of the group. She cultivates rice crops alongside her husband. She is an industrious woman in working on her farmland. Typically, she is able to earn around $2.50 per day. She has 2 children who are single and attend a local public school. Kheng intends to create more income through a pig fattening business, so she has applied for a loan from Kvia to buy some piglets to start this business. With the increase in income, she will save for the business expansion in the future and also for the education of her children. She wants to send them to the university after they finish high school.
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