Mrs. Soy H., 38, and her husband, Mr. Sun Soeun, 42, were married in 1990 and have four children: three sons and one daughter. Three of the children study at the local school; the other child is employed full-time. Soy and her husband have been fishing for eight years and selling the fish at the village market. Sun does construction work as well. Soy is requesting a loan in the amount of $300 to purchase fishing nets.
Mr. Seng H., 30, (shown in the picture with his wife on the left) and his wife, Mrs. Sophy Chea, 25, were married in 1998 and have one son and one daughter. Seng has been a fisherman for ten years and his wife has been a garment factory worker for two years. Seng is requesting a loan in the amount of $300 to purchase a boat for fishing.
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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