Granito De Arena Group
Update on Granito De Arena GroupDon Eduardo is 52 years old. He is a native of the indigenous Mazahua community. He belongs to the Granito de Arena (Grain of Sand) communal bank. He says they gave the group that name because the loans are like grains of sand: little by little they form a mountain and that is why he and his companions take advantage of the loans to improve their businesses.
Don Eduardo transports gravel, sand, stone, etc. for construction projects. He says he has run his business for more than five years and that he started it because he was not earning enough from farming. In addition his wife was very ill from cancer, however thanks to chemotherapy she was able to recover.
Don Eduardo notes that he makes two or three trips every day (transporting construction materials) and has to travel a distance to pick up the gravel or sand that he then sells to some sand dealers in the state of Mexico and in the town of Ocampo. This takes him a bit far from his own community, but that is where he gets the best prices so that he can earn something for himself.
He says he is requesting a loan in order to continue investing in construction materials and that he will also use it to do maintenance on his dump truck.
The other members of the group are María de Lourdes, Sonia, Félix and Marisol. They will invest their loans in the purchase of sewing materials, tires for a public taxi service, men and women’s clothing and scrap metal to sell later by the kilo.
Previous Loan DetailsMarisol is 32 years old and says that she is studying in her eighth semester at UPN (National Pedagogic University) for a degree in Middle Indigenous Languages. This will enable her to teach indigenous children who speak Ma... More from Granito De Arena Group's previous loan »
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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