Virginia is a Kubo Financiero client and this is her story:
My name is Virginia and I am 56 years old. I live with my family in a house in Mexico City. I have been selling beauty products, imitation jewelry and notions for 20 years already. My store is located on a market. In my store, I sell products and I offer weaving classes to people interested.
I will use this loan to purchase goods such as shoes and backpacks for the Back to School season. In this way, I am hoping to increase sales and therefore, increase profits. My biggest accomplishments are sending my children off to college and giving them a good quality of life. I believe I am a responsible person and I don’t like being late on my payments.
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.