After experiencing what is considered the fifth wave of Covid-19 infections and reaching more than 7 million cases in the country, the economic ravages of this pandemic continue to have repercussions within the national productive sector and one of the most notorious effects is presented in the field of bank credits for companies.
Since, despite the fact that some indicators of economic activity are beginning to give positive results, credit applications by companies show little progress, since the reality for companies is more challenging conditions to have solvency in the face of the challenges that meant the Covid-19 pandemic. Faced with an economy that is going through high inflation, an economic slowdown and lower consumption, concrete actions are necessary to promote credit applications within the Mexican business community.
For companies, obtaining a loan represents the difference between continuing to operate and growing or simply disappearing. Therefore, listing on the Mexican Stock Exchange means reaching the largest credit market to carry out your projects.
According to the survey Evolution of Financing for Companies carried out by the Bank of Mexico, during the quarter April – June 2022, companies observed less favorable conditions in terms of the amounts offered, guarantee requirements, times, commissions and interest rates. What gives an overview of the difficulties that companies have to apply for a loan.
Furthermore, during the closures due to the pandemic, the economic units stopped receiving income, fixed expenses persisted, so that the financial results were plagued by losses and red numbers, with zero or in the least cases negligible profits. .
Faced with this scenario, it is essential to reach agreements with banking institutions to facilitate the granting of loans to companies. Currently, the placement of new credits has stalled due to the existing legislation for granting them, because the applicant companies must demonstrate that they have healthy finances in recent years; and derived from the background generated by the pandemic, for a large part of the companies it will be impossible to access credit.
Thus, NAFINSA and BANCOMEXT are allies and a solution for financial entities to have a new standardization of data and/or calculations when analyzing the approval or rejection of loans for SMEs. With more flexible and empathic authorities, the operations of the economic units are increased, economic development is generated and, above all, well-being for Mexicans.
Lic. Gilberto Javier Sauza Martínez / President Councilor of CONCAEM
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