This small loan request is being made by three borrowers, all residents of Kandal Province. The group leader, Mrs. S. K., is 45 years old and a widow. She runs a small restaurant and sells boiled eggs and roasted sausages to neighbors. She can earn average of $3 per day, and has been doing this since 2005. She is responsible for five children, all of whom are single. To help provide more for the family, one daughter is working as a garment worker. K. is applying for a loan to buy furniture to use in the family home.
The another two borrowers are:
Pheng C. is age 22 and is single. She is a garment worker who is requesting a loan for her sister to use as capital to expand her business.
Bou S. A. is 56 years old and makes a living selling rice and foods. She requests a loan to purchase a motorcycle for her family to ride.
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.