Irma is a Kubo Financiero client and this is her story:
I am Irma, I am 43 years old. I only finished middle school and then left school to begin working. I have been married for 18 years, I live with my husband and we have 5 children, but only 3 of them live with us. I sell shoes, cosmetics and underwear from several brands. I have been in this business for 10 years.
I will use this loan to purchase footwear goods that I sell door to door by catalog. By having a larger inventory of products, I will be able to better serve my clients and increase sales. I consider myself a responsible person because I cover all of my personal expenses and I am also able to contribute in paying household expenses and improving my home.
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.