Banco del Bienestar launches "direct productive credits"

Business

By CAPosts 11 October, 2020 - 08:00am 478 views

Mexico City. The Banco del Bienestar (BB) announced the launch of the so-called direct productive credits, whose objective is to help entrepreneurs and business owners who are located in the municipalities most affected by the Covid-19 pandemic to relaunch their activities. At a press conference, the BB's deputy general director of corporate strategy, Roberto Rangel, explained that the aforementioned loans are aimed at clients who do not have access to commercial bank financing, due to the fact that many requirements are required or because the interest is very high. The official explained that a total of 10 thousand loans will be offered to individuals with business activities, for an amount of 20 thousand, 30 thousand and up to 50 thousand pesos, and that they are located exclusively in the 20 municipalities of the country most affected by the Covid-19 pandemic. The beneficiary of the loan begins to pay it from the fourth month, it is processed entirely through the BB website, to avoid intermediaries, and has an interest rate of 10 percent, when those of commercial banks are usually around 30 percent. For his part, Juan Humberto Cerdio Vázquez, general coordinator of development of the National Institute of the Social Economy, pointed out that direct productive loans will be the starting point of a “new social and solidarity banking” and called on the beneficiaries to associate to obtain greater benefits, rather than atomizing your efforts. The new Microsoft EdgeGet the latest Microsoft recommended browser