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Mexico

Bankers Announce New Finance and Credit Instruments for Mortgages

Closing the 79th Banking Convention, the head of the SCHP, Luis Videgaray Caso, said that in the next few months, they will award financing to micro, small, and medium-sized enterprises.

Videgaray bank convention
By Vianey Pichardo Whatsapp Twitter Facebook Share
2 years ago

The Treasury and Public Finance Secretariat (SCHP) announced two new financial instruments that will benefit micro-entrepreneurs and to those with a mortgage.

Closing the 79th Banking Convention, the head of the SCHP, Luis Videgaray Caso, said that in the next few months, they will award financing to micro, small, and medium-sized enterprises.

“For the first time in a program through Nacional Finance (Nafin), we will use the history of the Tax Administration Service (SAT) so for those companies that have no credit history but meet their tax obligations, and from that fiscal history be subject to credit, with the support of Nafin and financing from commercial banks,” said Videgaray.

He said that they will facilitate the scheme of subrogation mortgages of the National Housing Fund Institute (Infonavit), through which some may access lower rates for monthly payments.

“Thanks to proposals Mexican Bank Association, will open the possibility of refinancing the Infonavit mortgage portfolio, so that through the participation of banks, the cost of paying your mortgage every two months is reduced, and for accredited Infonavit workers,” he said.

Insured agreements formed part of the negotiation between the federal government and bankers during the 79th session of the convention.

“It was a banking convention marked by enthusiasm, respect to how banking goes fulfilling its social function, and certainly the satisfaction of seeing a Mexican economy, which differs from the economies of the rest of the world, its stability and the opportunities it gives structural reforms,” Videgaray noted.

 

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