Carlos is a Kubo Financiero client. This is his story.
"My name is Carlos, I am 30 years old and have been working as a motorcycle taxi driver for the last 12 years. I started first with a bicycle and then with hard work and savings I upgraded to a motorcycle. Now, I have four vehicles. My slogan is 'always be on time.' I will use this loan to buy some parts to fix one of my motorcycles.
I consider myself credit worthy because I always honor my commitments and pay on time. My biggest accomplishments has been upgrading from bicycles to motorcycles and my next goal is to buy a taxi."
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.