This small loan is being requested by four borrowers, all of whom live in Cheung Keub Commune in Kandal Province. The group leader, Mrs. S., is 58 years old and the mother of six children; three are single and the others are married and live away from home. She has been selling mushrooms in the market for more than eight years, and is earning an average of $5 per day. She usually buys the mushroom from a wholesaler and farmer to sell for a profit. She is married to Somnang, who is a local construction worker. S. is running her business well because she is skilled in attracting more clients. In order to make the business successful, S. is asking for a loan to buy more mushrooms for sale.
The other three borrowers are:
S. is a garment worker and she requests a loan for her husband to enlarge his business selling vegetables.
S. is a local electrician and he needs a loan for his wife to improve her business as a pork seller.
S. is a building supervisor and he is applying for a loan to buy more construction materials.
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.