Prey Veng Province, Cambodia Food | Grocery Store
Sokhom is pictured first from the right. She is group leader and would like to request a loan as part of a group of three members. She will use her portion to buy extra groceries to sell and improve her family’s revenue. In the future, she is going to expand her business, save money to build a new house, and help her children to go to university.
More information about this loan
KREDIT Microfinance Institution Plc., is one of Kiva’s most established partners in Southeast Asia. The organization empowers the economically-active poor and small entrepreneurs by providing inclusive financial services. Beyond loans, KREDIT offers low-income clients complementary training in debt management, savings and budgeting. In addition, KREDIT partners with NGOs to offer training in primary health care, agricultural techniques and HIV/AIDS awareness.
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.
A portion of Sokhom Group’s $1,475 loan helps a member to buy extra groceries to sell and improve her family’s revenue.