V., 40, is a widowed mother of two children who are still young. She earns a living by raising pigs in her pigpen behind her house. She always sells her mature pigs for a good price to the slaughter after raising them for four months. She plans to have a shop selling cooked ingredients and other domestic materials in order to meet the family's expenses. So V. is looking for a loan to build a small grocery store.
And the other members are: C., 30, who sells soft drinks in front of the market and is taking out a loan to build a shop for her business; S., 24, who sells porridge and Khmer noodle and is looking for a loan to buy more chairs and tables for her business; K., 27, who is a souvenir seller and is applying for a loan to buy a motorbike for her business' transportation; and G., 31, who sells sweets in the market and is taking out a loan to buy a motorbike for her business' transportation. The loan will help them attain a better standard of living.
About HKLHattha 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.
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Success!! The loan was 100% repaid