K. sells porridge in her area of Andongchenh village. She earns around $2.50 per day while her husband earns $3.20 per day working for a mobile phone company.
Her business is going well because her area is a crowded place and she sells along a road that passengers can see easily.
She has five children, one of whom is married. One single son is employed as a driver and can earn $100 per month. He also helps support the family.
To expand her business, K. is requesting a loan to purchase ingredients and repair her store to make it bigger.
The other two members of the group are:
- Mrs. C., 51, is a used-clothes seller. She needs a loan to buy more clothes to sell.
- Mrs. Sinoun, 32, buys and sells recyclables. She needs a loan to use as capital for purchasing more recyclables.
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