Mai K. is the leader of a group of four people requesting loans. Mai K. is 28 years old and catches fish in Tonle Sap Lake. She has been fishing since 1998 and currently can earn around $1 per day. She married to Mr. Lang Por and has two teenage children. The couple lives in Siem Reap Province. Her business is doing well, and the catch is usually good. To improve her yield, K. is asking for a loan to purchase more fishing equipment. She would also use part of the loan to repair the roof of her house.
These are the other members of the group:
Mrs. S. S., 60, is a widow who sells fish for a living. She would use the loan to buy fish for resale. Mr. Pech S., 27, is a fisherman. He would use the loan to purchase fishing nets. Mrs. Ry S., 37, runs a grocery. She would use the loan to restock her grocery store.
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.