José Luis is a Kubo Financiero’s client and this is his story:
José is 43 years old, is married and has a 3-years-old daughter. He has had his blacksmith workshop for 20 years now. He has been in this profession since he was 17 years old. He started as a helper and after some years working he decided to become independent and open up his own workshop.
He mainly repairs excavating machines in his workshop, and also has some clients who frequently seek him out to repair refrigerating systems. He asks for this loan to buy tools needed for his repairs.
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.