Mrs. Hing E., 30, runs a store in her home selling rice. Her profits are the main source of income for her family. She has been in this business for a year. She also takes care of four children, all of whom are single and live at home. Her husband, Mr. Pot Chanty, 37, is in the Cambodian military and receives a salary of $50 per month. To expand the business, Hing is applying for a $400 loan to order more rice to store and sell.
Mrs. Chin P., 29, a widow, is a local grocery seller. She needs a $400 loan to buy mores groceries to sell.
Mrs. Chen P., 33, makes a living selling fish at the local market. Chen is requesting a loan of $200 to buy a motorcycle to make transportation easier.
Mrs. E., Mrs. P.'s husband, and Mrs. P. are pictured.
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