This group of borrowers consists of three people. Its leader, Mrs. O., 41, is widowed and has seven children who are living in the family home. Most of them are employed as constructiO. workers. She is a domestic rice trader. She usually buys rice from the farmers and then re-sells it. O.'s business is profitable, and that motivates her to continue investing in it. In order to make her business successful and generate a stable income for her family, she is requesting a loan to purchase more rice. The other two members are P. and Y.. P. is a 43-year-old widow, who is a vegetable grower. She is requesting a loan to buy fertilizer for her crops. Y. is a 42-year-old widow and she is a traditional medicine maker who is requesting a loan to buy raw materials to make medicines with. The borrowers currently live in the Rolous Commune of 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.