Mexico creates small business credit program

Mexico creates small business credit program

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Mexico's finance ministry said it is forming a MXN10 billion ($499 million) credit program with local banking association ABM and securities commission CNBV to increase lending to small and medium-sized enterprises (SMEs). "We are willing to work more closely with all banks," Finance Minister Rogelio Ramírez de la O said during an ABM conference in Acapulco on Thursday. SMEs represent 15% of economic added value in Mexico, but only 14.6% have access to financing, and many small businesses were "

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