More and more companies “are resorting to pledge loans to fund their operations,” revealed Joel Rodríguez Navarrete, general director of the Mexican Association of Pledge Service Companies (Amespre).
According to the executive, around 12% of collateral loans are to fund tinkerers, small and medium-sized companies and even startups.
In 76% of the cases, the loan is for a thousand pesos and for four weeks, therefore, the rest are other types of loans, at least half of that 24% are from businessmen”, he estimated.
We have a large number of operations with small entrepreneurs, local producers, entrepreneurs who are just starting out, startups, including small and even medium-sized companies that use access to pledge loans to meet their cash needs,” he assured in an interview.
FASTER THAN A BANK
The director of Amespre revealed that micro and small entrepreneurs in our country often resort to commitment, because it is an agile service, above the service offered by banks.
We thought that pledge loans were used by those who did not have access to another form of financing: Error. It is a false perception. We realized that many clients, medium and micro-entrepreneurs, having the option of going to bank loans, came to us. The flexibility, the promptness, the legitimacy of the collateral loans is very important”.
The executive mentioned that there are registered cases such as that of a client in Veracruz, who in order to start a work “had to pawn a truck, with the money that was lent to him, he began to promote a real estate development. As soon as he obtains liquidity, he returns for his truck, the next day, because there was an investor who wanted to buy his apartments, he gave me money, he was able to get the truck out, in one day. Having access to a bank loan and wanting to pay it the next day would be a complicated issue”.
*clm