The size of the FMELGBT + and Viwala loans range from 300,000 to five million pesos.
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The Mexican Association of LGBT + s (FMELGBT +) and lender Viwala announced the launch of the Diverse Financing program to increase the financial inclusion of LGBTQIA + entrepreneurs and businesses that support these communities in the country.
This initiative aims to assist LGBTQIA + businesses and individuals with principal and interest payments that are directly related to the company’s actual financial performance, and to provide flexibility for entrepreneurs without diluting capital.
“Diverse funding” arises in response to the low access of many members of LGBTQIA + communities to traditional financial systems. According to studies by economist M.V. Lee Badgett, the economic loss accounts for at least 1 percent of the country’s gross domestic product (GDP).
“We want to provide companies with a funding mechanism to encourage the growth and development of businesses that have a positive impact on LGBTQIA + communities,” said Karla Gallardo, Viwala General Manager. “In times of complex sales, we give companies a loan that adapts to their earnings, so they can keep working in these tough times.”
It is worth noting that all companies owned or operated by the LGBTQIA + community are invited to apply for the program. Each applicant must provide evidence of the positive impact their company is having or will have on the LGBTQIA + communities and must conduct a detailed analysis of the credit and business model operated by Viwala.
“For the selection of the companies for which we have fast and automated processes, we request simple information and the process is agile. The response is obtained within 4 days. If the credit is approved, you can deposit in cash within 10 days make. ” their accounts, “said Gallardo. Loans range from 300,000 to five million pesos.
Companies that are interested in being part of Diverse Financing just have to enter www.viwala.com and leave us their information under “Request a loan”. A Viwala manager will contact you to start the loan process.