Juan Carlos is 33 years old and lives in his parents' house with his wife and daughter. For the past 12 years he has produced tortillas, selling them from the house.
Juan Carlos is asking for a loan to acquire a corn mill; this will enable him to sell nixtamal (wholesale) to other tortilla factories in his neighborhood and also reduce his costs and increase profits. His goal is to achieve financial stability and expand the business.
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.