Magaly is a Kubo.financiero borrower. This is his story:
My name is Magaly, I am 31 years old. I am a very responsible person, I have been married for 8 years and have 3 beautiful children ages 6, 4 and 1.
I live with my in-laws and fortunately I have a very good relation with them. I used to work for a company, but when I started having babies, it became impossible, so I started making tamales (mexican food made of corn) and sell them. I am a fighter because I want to build a safety net for my children and because of that I'm willing to work very hard now that I am young. Of course, I also take very seriously my responsibility as a wife, mother and partner.
Fortunately, my business is growing rapidly and I need the loan to build a cellar where I can put the corn leafs and other inputs that I use to make the tamales such as: chile, chocolate, cinamon and other species. In the future, I'll like to buy a mill. By building the cellar, I will be able to buy inputs in larger quantities and get better prices. I know this is a big expense, but I am confident that my business will benefit greatly and I will be able to pay the loan.
I will like to add, that I start cooking the tamales at 3 AM, because the tamales need to be warm and ready at 6 AM. I started my business 4 years ago and my biggest accomplishment is that it has been growing since.
Kubo.financiero is a regulated microfinance institution that provides accessible and affordable loans to borrowers in Mexico. Its online banking platform and other innovations enable Kubo to charge interest rates that are much lower than the average for MFIs in Mexico. By doing business in a new way -- leveraging technology and customized risk profiles -- the organization is able to support microfinance clients throughout the country. With funds from Kiva lenders, Kubo is able to expand its lending network even further, reach riskier clients who have less credit history, decrease interest rates for borrowers, and scale its service area.