Juana is a Kubo Financiero client and this is her story.
Hello my name is Juana, I am 48 years old and have been married for the last 30 years, I live with my husband and we have three teenage children. We have a pizza restaurant with three employees, I work every day from 5 a.m. to 11:30 p.m. Usually I sell pizzas at schools and in the streets of Iztapalapa. We are beginning to be successful in part because we have a very traditional concept of pizza.
I will use this credit to buy a bigger oven. With this new oven I will be able to supply increased orders that I've had lately. Also I will use a part of the loan to buy flour, cheese, pepperoni, ham, pineapple and soda cans. My biggest accomplishment in life is that my children respect me and also admire me. My challenge is to make my business grow.
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.