Santander and Coparmex join forces to reactivate CDMX SMEs with preferential loans

Banco Santander has promised to offer better loan conditions to nearly 5,000 CDMX Coparmex associates.

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May 19, 2021

4 min read

This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.

In order to reactivate the economy of SME , the Confederation of Employers of the Mexican Republic (Coparmex) made alliance with Santander Bank to offer loans on preferential terms to its associates in Mexico City.

This Tuesday, at a press conference, a plan was announced for the 5,000 Coparmex CDMX associates at access Santander Loans . Credit lines can range from less than 500 thousand pesos to 15 million pesos .

Armando Zúñiga , president of Coparmex CDMX , stressed that this alliance arises as a response to the crisis, so that there is no more loss of formal jobs. He reported that during the pandemic they recorded the closure of some 70,000 micro, small and medium-sized enterprises in the capital of the country and 20% of the members.

“It has been a difficult year for many sectors which are strongly stimulating employment in Mexico City. I’m talking about restaurants, party halls and schools, which have been closed for over a year, of which we have a little more 70 thousand economic units lost , which led us to launch requests for financing and tax advantages to the government as well as to private financing “ Stressed Zúñiga.

For its part, Luis Ricardo Álvarez , executive director of the SME segment in Santander, Mexico , explained that these loans will have best conditions . For example, there will be advantages in the opening commissions of credits, delays of 36 to 60 months to pay and an interest rate up to 300 points lower than those currently offered.

“The average amounts that we are looking for could be between 4 and 5 million pesos, but we have a very wide range for all needs”, added the bank manager.

In addition, there will be a specific offer for businesswomen, who represent 20% of CDMX companies, as well as for new entrepreneurs.

Conditions for obtaining a Santander-Coparmex loan

Álvarez explained that business owners who meet the following conditions will be able to access the loans:

  • Be an official MSME affiliated with Coparmex
  • Be registered with the Treasury in a tax system
  • Have two years of experience in the company

Business owners will be able to apply for the loans online , and the bank’s response would arrive in about 15 minutes. However, the bank noted that an application may be rejected if the credit is used to pay off other debts.

This plan is in addition to Conecta by Coparmex platform, which functions as a business incubator to create a job bank in coordination with the Secretariat for Economic Development of the Government of Mexico.

“We want to help people move forward and we are convinced that the alliances we are presenting are necessary and will give momentum to the recovery we all aspire to today.” », Said the executive of Santander.

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