The group of borrowers consists of four people. Its leader, Mrs. Im S., 44, makes a living selling various grocery products, such as cooking ingredients, plastic products, and sweets. She started the business six years ago, and currently earns approximately US$3 per day. Her husband is a motorcycle taxi driver. Mrs. Im S. has five children, one of whom is married, while the other four are still single and live with their parents. One of the daughters assists Mrs. Im S. at selling groceries. Currently, the family is suffering from pollution surrounding their house, which is harmful for their health. Therefore, Mrs. Im S. is requesting loan to purchase another piece of land.
The other three borrowers include Srey P., 36, who is a housewife and also needs a loan to buy a piece of land;
Chhea M., 31, who sells groceries and needs money to purchase an additional stock of groceries; and Som K., 26, who is widowed and earns a living selling groceries and needs a loan to expand her business. All of the borrowers live in Slor Kram Commune, Siem Reap 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.