Lucas is a Kubo Financiero client and this is his story:
My name is Lucas. I have been married for 15 years and have 3 sons: 14, 12 and 4 years old. I bought a home but currently I am using it as my workshop, so I live in another house with some relatives. I make and sell rustic furniture such as bases for beds and wardrobes.
I will use this loan to buy some materials for furniture making. If I buy in larger volumes, I can obtain better prices and make larger profits. Also, at the moment, I have some requests from clients and I will be able to deliver the furniture faster with this loan. I am a responsible, hard working person and like to pay my debts on time.
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.