This is a group loan with five members from Battambang Province. Mrs. Roeut Y., a 35 year old fish seller, is the leader of the group loan. She owns and runs a small store in the Beung Chok Market. She sells fish, dried fish and fish paste and earns a profit of approximately $3 per day. Mrs. Y.'s husband is Oun Chomnan who is a 34 year old motorcycle taxi driver. They have three children who are currently attending school. Mrs.Y. is requesting a loan to purchase fish for her business.
There are four other borrowers in this group loan including Sen P. (age 35), Sen L. (age 20), Ly P. (age 28) and Bil S. (age 27). They all require loans to buy more fish for their fish businesses.
Hattha 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.