Koeut S. is 31 years old and a group leader for loan borrowers, consisting of 4 members. She is a mother of three children: all are students. She is married to Duong, 37, who works as a garden worker in the private sector. S. sells fish and vegetables in the market. She gets up early in the morning and goes to the riverside where fish and vegetables are sold in bulk and then hurries to the market to sell them for a good price. She is requesting a loan to buy hundreds of kilos of fish and fermented fish sauce (Khmer cheese) because this the fishing season. She has been selling in the market since 2000.
The other members are: Ork S., 47, who sells vegetables in the market and is requesting a loan to buy fish and fermented fish sauce. Koeut S., 27, who sells fermented fish sauce and is needs a loan to buy more fermented fish sauce for her shop. And Horm K. S., 21, who is a local construction worker requesting a loan to buy a motorbike for his work. They all live in 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.