This is a small group that has three members joining together to ask for a loan. Mrs. B., 52, is the leader of the group. She is a widowed rice farmer who lives in Donsok Village in Siem Reap Province. She has five children, three of whom are married. The other two are single and live in the family's home. The two single daughters are employed as garment workers in Phnom Penh City and help to generate revenue to support the family. To alleviate their farming work and to gain profit in the future, B. would like to ask for a loan to purchase an ox to breed. <>
The other two members are:
Mr. V., 25, a fisherman who needs a loan to purchase an ox to use; and Mrs. C., 25, who is a fisherman and needs a loan to purchase an ox. The people all live in 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.