Mrs. Soeurn T., 48, makes rice cakes and sells them in her village. She is the leader of a group of three women seeking loans. She is married to Mr. Touch Phanny, 50, who works as a photographer at wedding parties and other special occasions. She has nine children, three of whom are married. Two of her daughters are wedding decorators and help support the family and pay expenses for the four children still in school. To expand her husband's business and improve the service they offer, Soeurn T. is asking for a loan so that her husband can buy photographic supplies.
The group also includes the following two women:
Soeurn L., 40, sells cooked foods and raises pigs. She would use the loan to buy ingredients for the dishes she sells.
Nop N., 42, carves wood and sells her carvings. She would use the a loan to expand her business. The women in this group live in Battambang Province.
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.