Arturo Bernardo is a Kubo Financiero client, and this is his story.
"My name is Arturo and I am 24 years old. I live with my parents and work with my father buying, fixing and selling used cars. I come from a great family - my father taught me how to fix cars, and my mother also works extremely hard. I have two sisters that go to school, but as I am the oldest I have to be a great example to them and work hard.
The name of my project is 'Servicios Beni,' and my slogan is 'engine modifications for competition.'
I will use this loan to buy some spare parts and tools that I need to fix some cars so I can resell them. I would like to tell you that the business was started by my grandfather. What we do is buy cars from insurance companies that are in pretty bad shape, fix them and then sell them. I also work as a mechanic. Both my father and I manage the business, and I have been working at this job for the last 9 years. My biggest goal is to start my own car shop."
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.