Endeavor Mexico company and microfinance institution Kubo Financiero recently partnered with US non-profit KIVA, which has distributed over $400 million in loans since 2005. As a result, some Kubo borrowers will now have their loans posted on KIVA’s lending site. Notably, the Kubo-KIVA alliance was covered by Reforma, one of the most widely-circulated newspapers in Mexico.
Founded by Vicente Fenoll, who was selected by Endeavor in 2004, Kubo gives out small loans (USD $25-$4,000) via a peer-to-peer lending site to finance everything from education courses to health treatments. One example of a Kubo project posted on KIVA’s site was from a taxi driver asking for a USD $1000 loan to finance maintenance of his vehicle.