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Santander, Banorte and Banco Azteca will be in charge of distributing government loans to SMEs

April 8, 2020

The President of Mexico said that the credits will be up to 25 thousand pesos and will not require as much paperwork.

2 min read

In his morning today, the President of Mexico, Andrés Manuel López Obrador, said that he will help micro, small and medium-sized companies (MiPymes) through a million loans of 25 thousand pesos that will be distributed by Banorte , Santander and Banco Azteca as which according to the president are the banks that have branches throughout the country. All this against the economic complications that companies may have derived from the contingency caused by COVID-19.

Santander, Banorte and Banco Azteca will be in charge of distributing government loans to SMEsSantander, Banorte and Banco Azteca will be in charge of distributing government loans to SMEs

According to the president, he personally contacted the owners or presidents of the board of directors of each of the financial institutions, among whom he mentioned Ana Botín de Santander, Carlos Hank de Banorte and Ricardo Salinas de Azteca. With whom he agreed that no commissions will be charged for providing this service.

He explained that from April 20 to 30 the banks will have the applicants' lists available and on May 4 each institution will have 8.3 billion pesos to deliver to the beneficiaries.

When requesting this credit, those interested must sign only one document, after which the aid will be given, which will begin to pay from the fourth month with monthly payments of 850 pesos for three years.

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