Phon was chosen as the leader of a five-member loan group. The other members are:
1.Mrs. Phai T., 52, who sells wooden cutting boards used for chopping meat. T. requested a loan of $300 to buy a secondhand motorcycle for transportation.
2.Mrs. Hing P., 46, sells desserts and Khmer noodles in front of her house. Hing needs a loan of $300 to purchase a secondhand motorcycle for easier transportation.
3.Mrs. Tan T., 64, a Khmer noodle seller. Tan requests a loan of $200 to purchase piglets to breed.
4.Mr. Man M., 27, a motorcycle taxi driver. Man needs a loan of $250 to replace his motorcycle.
These five people all live in Leangdaiy Commune, Siem Reap Province.
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