1-Mr. Ros U. (age 51) and his wife were married in 1982.They have nine children, four sons and five daughters. One of their children was married and lives outside the family home. Of the other eight children, five have full time employment and the other three children are in school. Mr. Ros has been motor taxi driver for twenty five years. His wife, Mrs. KhoeU. Min stays at home to take care of the children. Now Mr. Ros is requesting a loan in the amount of $300 to repair his house.
2-Mr. Sokrith U., 25, (the second shown in the picture from the right with his wife) and his wife were married in 2005 and have two daughters. Sokrith has been driving a motor taxi for seven years, while his wife is a garment factory worker. Now Sokrith is requesting a loan in the amount of $300 to purchase a new motorcycle to replace the old one for driving as a motor taxi.
About the group loans
In the group, each member of the group receives an individual loan but is part of a group of individuals bound by a group guarantee. Under this arrangement, each member of the group supports one another and is responsible for paying back the loans of their fellow group member if someone is delinquent or defaults.
About MAXIMAMAXIMA Microfinance Plc is a Cambodian microfinance institution founded in 2000 to help low-income rural and urban people and small- to medium-sized businesses (SMEs) access financial services. Sustainable access to credit helps to create jobs and enables business owners improve their living conditions, educate their children, provide health care to their families, and more. It also enables the rural poor to remain at home with their families, rather than moving to city centers in search of employment.
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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