Comprehensive program for financing SMEs in Mexico
In the framework of the 88th Banking Convention, Luis Antonio Ramírez Pineda, general director of Bancomext and Nacional Financiera (Nafin), announced a joint strategy between development and commercial banking to facilitate access to credit with reduced interest rates aimed at small and medium-sized companies (SMEs). This plan includes guarantee and risk coverage mechanisms that will allow financial institutions to offer more favorable conditions.
The key role of development banking
Ramírez Pineda explained that currently 50% of the credit available in the market has support from state banks. Between 2022 and 2024, this model made it possible to channel more than 2 trillion pesos in financing, benefiting more than 522 thousand companies through guarantees of 178 billion pesos. “Our objective is to expand the geographic reach, since currently 70% of these resources are concentrated in six states,” he explained.
Institutional coordination to mitigate risks
Julio Carranza, outgoing president of the Association of Banks of Mexico (ABM), emphasized that the reduction of rates requires a gradual and segmented approach: “Each credit product has specific risk profiles depending on the size of the company and sector. The guarantees of the development banks will allow us to progressively adjust these conditions.” Both directors agreed that this measure responds to the Presidency’s mandate to boost the regional economy.
The program is part of Plan México, an initiative that seeks to diversify the sectors served and break with traditional financing schemes. According to data presented, micro and small businesses represent 72% of formal employment in the country, but historically they have faced difficulties in accessing capital at competitive rates.
Economic impact and projections
Analysts consulted highlight that this policy could increase the volume of loans to SMEs by 15-20% in the next three years, especially in states with less industrial development. However, they warn about the need to accompany these measures with financial training and simplification of procedures to optimize results.
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