Bank financing, a traditional source for companies in Mexico, is experiencing a reduction in its use by companies, especially during the second quarter of 2024. According to the latest report from the Bank of Mexico, only 27.7 percent of companies resorted to bank credit during this period, a figure significantly lower than in previous quarters. This trend has led SMEs to look for other options to finance their growth and maintain their operations.
The percentage of companies that used bank financing in the second quarter of 2024 was the lowest since the third quarter of 2022. In addition, the percentage of companies that requested new loans also decreased, going from 16.7 percent in the first quarter to 12.5 percent. percent in the second quarter of the year. The main reasons behind this decline include high interest rates and demanding loan collateral requirements, which have caused many businesses, especially SMEs, to reconsider their financing options.
In this context, supplier financing and other forms of credit have gained ground. Despite this, many SMEs still face difficulties accessing the resources they need to grow. This is where non-banking financial companies come into play, which are filling this gap with more flexible and accessible solutions.
With traditional banking tightening its conditions, alternative financial institutions have emerged as a key support for small and medium-sized businesses in Mexico. These institutions, known as Sofomes and other similar entities, have provided more accessible financing options, allowing SMEs to obtain credit more quickly and with fewer restrictions.
This type of financing is currently essential for many companies that need capital to continue operating, whether to maintain their cash flow, invest in new projects or expand their businesses. Non-banking financial companies have proven to be an important support for sectors such as manufacturing and services, which have seen a decline in access to traditional bank credit.
Kapitalizer: an ally in industrial growth
Among the alternative credit institutions that have been supporting the SME sector in Mexico, Kapitalizer stands out as an example of how these entities are making a difference. By offering financial products adapted to the specific needs of SMEs, Kapitalizer has contributed to the growth of the industrial fabric in the country. Its focus on fast and flexible solutions has allowed many companies to access the necessary financing without the bureaucratic challenges that characterize the traditional banking system.
However, Kapitalizer is just one of the many options that have emerged on the market. The diversification of financing sources is a reflection of how SMEs are adapting to a constantly changing economic environment, where bank credit is no longer the only or the best option for all.
Perspectives for SME financing
Financing for SMEs continues to be a critical issue in Mexico. While non-bank financial institutions have alleviated some of the pressure, it is necessary for both the public and private sectors to continue working on creating financial policies and products that further facilitate access to credit.
In an environment where capital needs are essential for growth, Mexican SMEs are finding new ways to stay competitive, supported by key players such as Kapitalizer and other financial institutions. These changes in the financial landscape could signal the beginning of a new era in business financing in Mexico.
The author is president of the National Business and Financing Commission of Coparmex.
Fuentes:
Bank of Mexico
2024-10-10 18:27:00