The authorities encourage SMEs, because they create three out of every four jobs and make up more than 90% of the number of businesses in the country.
Mexico’s development bank has up to 144,000 million pesos (about $7,938 million) available so that small and medium-sized companies (SMEs) can expand their investments and participate more in foreign trade, it said. to the financial authorities this Monday.
The head of the Financial Institutions Unit of the National Bank of Foreign Trade (Bancomext) and Nacional Financiera (Nafin), Javier Vázquez, confirmed these figures after the presentation “Export credit for SMEs in Mexico”, and said that it is it is important to stimulate SMEs. , because they create three out of every four jobs and make up more than 90% of the number of businesses in the country.
“The most important thing is that we can support them with the resources they need to get supplies, raw materials, machinery and equipment so they can expand their markets,” he said.
The representative of Bancomext and Nafin emphasized that these “available resources” will help the benefiting SMEs to participate in foreign trade by selling their products abroad and establishing themselves in other markets.
In addition, he considers that it will allow them to move their production and develop specific products for other latitudes.
“Basically, it consists of a series of financial resources through credit, factoring, financial leasing, pure leasing and training and technical assistance tools, precisely so that small and medium-sized companies can still participate in foreign trade,” he insisted.
The Mexican official explained that the development bank has an amount of 23,000 million pesos through other financial institutions, and said that 85,000 million pesos will be allocated to increase the direct operations of the companies.
In addition, he pointed out that about 36,000 million pesos will be used to finance the acquisition and updating of machinery, as well as various equipment needed by Mexican SMEs.
Vázquez also explained that each company can be a particular case, so the amount of the loan will be checked by each company that requests the resources.
According to Nafin, this type of financial offers serves up to 240 products within 17 sectors, where Mexican companies have import activities, especially in the United States and Canada.
Likewise, Vázquez pointed out that these financial opportunities seek to make SMEs take advantage of the benefits of moving global supply chains, a phenomenon also known as “nearshoring.”