A leader S., 38, is a widow mother to one child whom is a student. She owns a general store selling plastic, kid's sweets, cooked ingredients, charcoal, gasoline, noodle ...etc to the whole community since 2000. By the store, she has a lot of customers and she earns a good benefit because she is famous for good service and responsibility. To support her child's education, Seroeun wants to have more income. Seroeun is applying for the loan to build a bigger store and to buy more products for her store. The other group members are: T., 37, who serves rice as the breakfast meal, is taking the loan to invest in her selling. And S., 48, who owns a shop selling groceries, is looking for a loan to buy more products for her shop. They all live in Phnom Penh city, Cambodia. A sister of S. is in picture too.
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.