Gustavo Armando is a Kubo Financiero client, and this is his story.
"My name is Gustavo Armando and I am 27 years old. I am married, have two small kids and we all live in my parents' house.
I have a grocery store that is outside of my in-laws' house. The name of the store is Abarrotes Paola. My father-in-law started the business and then sold it to me six years ago when I married his daughter. I will use this loan to buy more groceries, as I believe that by having more variety, I will be able to increase sales. I consider myself credit worthy because I always pay my debts on time. My biggest accomplishment has been having a successful business and being able to buy a car."
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.