The data from the National Survey of Business Financing (ENAFIN) showed the harsh reality to the financial sector: the products and services that they have today are not attractive for SMEs; high interest rates and many requirements remain the main complaints, which is why just over half of the companies have never applied for a loan.
Although the Association of Banks of Mexico (ABM) reported that the flow of new credit to SMEs has maintained a positive and growing trend since October 2021, with levels above pre-pandemic levels, which they see as a clear sign of a gradual recovery , the number of SMEs that do not see them as an option is immense and it is an issue that is not likely to change soon.
Although, for several months now, the members of the banking system have “explored” – as they said – some alternatives with the financial authorities at all levels, including the head of the Treasury, the Banking Unit, the National Banking Commission and Securities (CNBV) to lighten some elements, that is, requirements, that allow credit to this type of company to continue growing.
Although it is clear that there is interest, and in other cases the authorities have shown speed in implementing some regulatory changes, and even almost ready for legal entities to open accounts remotely as can be done with individuals, there is other issues that they recognize do not make this situation resolved in a month.
Hand in hand with these regulatory changes being explored, also for some time, they have turned to seeing development banking to be an accelerator for small and medium-sized companies, but as second-tier banking has rightly said, resources are not are sufficient in this environment of austerity, even specialized financial intermediaries have found it difficult to be the channel through which more resources are dispersed.
Today, 85 percent of the business portfolio is in sectors that show a resounding recovery in terms of credit portfolio. The greatest growth is associated with the issue of communications, manufacturing, culture, agriculture and production chains, but without attractive products or at least easy access, the issue of more SMEs having access to credit will continue to be the great pending for the entire sector. and therefore an opportunity for those financial entities that dare to open the tap a little more.
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And on the other side of the coin, the changes in the National Banking and Securities Commission (CNBV) just don’t stop, from the Money Laundering Prevention area the three directors who for years were in this task of reviewing and supervising the The good performance of the financial sector, as well as the fulfillment of the thousands or millions of requests for account information requested by all the authorities, are already gone, and changes are also announced in the stock market area.
This will undoubtedly have some impact on various ongoing processes. The most complicated thing, recognize many of those regulated, is that all this has meant that issues pending resolution remain stagnant, since between the changes and the lack of personnel, nothing else comes out of the procedures started long ago, even increasing the fees they pay , create an independent body, are just some of the proposals that are discussed to speed up a little what were already complex processes that are now slower than ever; By the way, in the entire sector, no one has any doubts as to who is the person who is in true control of the entity, and they say it is not the kind president who has won the affection of several due to his pleasant conversation. For now, the currency is in the air.