This is a small loan, requested by four borrowers, all of them live in Chong Kneas Commune in Siem Reap Province. Mr. O., 39, has been selected to be leader by the group members. O. and his wife currently earn a living by catching fish which they sell at the local market. They get up early, before light, every morning and start fishing. They livelihood depend O. catching fish in and around Tunle Sap Lake, which is their main fishing ground. O. is unable to catch maN. fish as his his fishing equipment is often broken. Therefore, he is asking for a loan to buy more fishing equipment.
The other three borrowers are:
T. is a widow, age 64, who earns a living catching fish for sale. She needs a loan to buy nets for fishing..
N., 48, catches fish to sell, with her husband and she requests a loan to buy more fishing equipment.
S., 20, catches fish for a living and she has applied for a loan to repair her old house.
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.