This is a small borrowing group of 5 members and Mrs. S. is the group leader. Il S., 28, is tailor from her house in Romchek 1 Village. She has a small store and runs her tailoring business to make modern clothes and custom orders. Il is able to earn $2.80 per day. She is married with one child. Her husband is motorcycle taxi driver. To increase the amount of clothes produced and satisfy her customers, Il is requesting a loan to purchase more fabrics to use for her business. The other four members of the group are:
Mrs. Youk H., 48, is Khmer rice cake seller and is requesting a loan to expand her business.
Mrs. Hing C., 35, is grocery seller and she is requesting a loan to use for her husband's business.
Mrs. Sin K., 37, is a carpenter and is requesting a loan to use for her business.
Mrs. Vong K., 45, is church staff member and is requesting a loan to use for her husband's business.
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