This group of borrowers consists of four members. Its leader is N., 21, is a father of a young child. He is married to Chinda, 22, who earns an income selling clothes in front of the garment factory. N. sells different kinds of clothes in the Phum Pheak Market and he has been in this business for more than two years. Because his shop is located in the busy market, he can earn a good income and provide a better standard of living for his family. He imports clothes from Vietnam in bulk, at a low price and resell them to his customers at a higher price. He always goes by bus or motor taxi which cost him to much. To help reduce travel expense and because of N. is now tired of taking buses and motor taxies, he is looking for a loan to buy a motorbike for his business and his family transportation.
The other loan members are: S., 34, who serves as an electrical provider in the private sector is making a loan to renovate his house for his family. KimS., 30, who sells ice to the whole commune is making a loan to build a shop for her business. And S., 27, who owns a groceries shop is applying for a loan to buy more food supplies for her shop. They all live in the Siem Reap Province. S. was not available during the photograph so his wife, Sophy, is in the photo.
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.