Hin Thar – 2 Village Group
Hin Thar – 2 Village Group’s story
Hin Thar is located in Central Myanmar Pakokku Township and has 190 households living in the village. They mainly focus on agriculture, animal breeding and retailing. The funds from Kiva will support 17 loan clients in the village. The picture above includes five group leaders, who will help oversee all the loan clients. Their names are Ye, Myo, Kyaw, Tun, and Toe.
Ye (middle in the picture), a hardworking man, is married with one child. He has been doing agriculture for 10 years. Ye and his fellow members are very much looking forward to receiving the loan. This new loan will help the village in purchasing crop yields and fertilizers that will help increase the crop sales.
This loan is special because:
More about this loan
CBOs also play a key role in providing access to microcredit. In this model, CBO committee members support Proximity loan officers throughout the entire loan cycle. They assist in selecting village borrowers and also act as formal representatives during loan disbursement, collection of repayments and other communications. CBO committee members appear in Kiva profiles – often alongside village borrowers – as representatives of the community.
Since families rely heavily on income from farming to support their livelihoods, these loans are structured with a single bullet repayment at the end of the loan term. The timing aligns with expected harvest season when borrowers will be able to repay. All community members who receive financing through the CBO model must repay their portion of the loan before a village will be eligible to receive new funding.
About Proximity Designs:
Proximity Designs is a non-profit social enterprise that offers loan products to help small, low income farmers increase their productivity and income. There are around 12 million farmers in Myanmar who make up more than a third of the labor force. The majority of these farmers have virtually no access to formal credit institutions.
In the absence of other financing opportunities, most small farmers in Myanmar are unable to afford the equipment, material, and labor necessary to grow their crops without the help of Proximity Designs. Kiva funding will be used to help Proximity Designs expand its agricultural microfinance operation and reach more low income, rural farmers.