This small loan will go to three women, and the group leader, Mrs. Un S., is 40 years old. She is a vegetable market seller, selling different kinds of vegetables such as cabbages, morning glories, and cucumbers. She currently earns an average of US$ 7 a day to sustain her family. She began this business in 1999. She is widowed and has three children, all of whom are still young and attend school. Her older sister is living with her. She makes a living selling mixed fruit juice and helps meet the family's needs.
To improve her business, S. is applying for a loan to buy more vegetables for sale, as well as for her older sister to enlarge her business.
The two other borrowers are:
Em N., 46, who is selling rice and porridge, etc. She's requesting a loan to purchase a motorcycle for her family to ride.
Pich C., 45, is a Cambodian military person. She needs a loan to begin a new business as a hairdresser.
The borrowers live in Steung Meachey Commune in Phnom Penh City.
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.