Credit for your NAFIN business: discover the main options!

What are the financial product options offered by NAFIN?

National Financial, also known by its acronym NAFIN, is a Mexican entity in charge of promoting savings and investment of Mexican citizens, contributing to the economic development of Mexico.

It facilitates the financing of micro, small and medium-sized businesses (MSMEs) and entrepreneurs in the country.

Besides, NAFIN It contributes to the formation of financial markets and acts as a fiduciary and financial agent of the Federal Government, promoting innovation, productivity, competitiveness, job creation and regional growth.

Without a doubt, it plays a crucial role in supporting Mexico's economic development.

This is because it provides financial services and promotes the sustainable growth of companies and entrepreneurs throughout the country.

Discover below some of the financial products it offers, which can make a difference in the development of your business.

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1. WomanIs Industry

The objective of this financial service is to promote companies led by women in the Industrial Sector.

As a result, support and encourage the participation of these women and their empowerment in the business area.

In addition to financial services, this initiative aims to strengthen decision-making also through non-financial services, such as diagnosis and training.

This credit has no opening fee or penalty for early payment.

The amount granted can reach up to 5 million pesos and the payment is paid in up to 60 months, depending on the destination.

It also has a simple revolving credit. The simple fixed interest rate is 15.5%, while the revolving interest rate is TIIE + 9 pp

For amounts of 2.5 million pesos it is not necessary to present a mortgage guarantee.

The money must be used for working capital, modernization of the business and also for the purchase of equipment.

Entrepreneurial women or MSMEs led by women in the industrial sector, who have the course certificate, can apply for this credit. NAFIN.

On the institution's portal you will find a QR Code to scan; upon completing the scanning process you will be redirected to the Nacional Financiera course page.

By completing the course and earning the certificate, you may be an eligible candidate for the program, if you also meet the other requirements.

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2. Preferential Guarantee

The main objective of this loan is to reach micro, small and medium-sized businesses, especially those that live in regions with little banking coverage.

By making financing an accessible option for regions of the country with less banking visibility, this initiative promotes their economic development.

The financed credit can reach up to 70 million pesos and the payment term can be extended up to 72 months.

Interest rates are established and limited according to the amount of credit approved. In terms of guarantees, up to 2.5 million pesos, guarantee or joint obligation.

The grace period, in turn, can last up to 9 months, depending on the policies of each bank.

The credit can be requested by companies requesting their first loan and also by established companies.

In addition, to apply it is necessary to have an application or financing authorization form.

For more established companies, it is also necessary to have a credit history with the Credit Bureau.

Among the banks that can serve as a financial intermediary we find, for example:

Banorte;
spa area;
Say;
BBVA;
Citibanamex;
Mifel.

Once you have your credit files, you can access the credit tab on the NAFIN website and integrate the application files.

3. NAFIN impulse + States

As its name indicates, this credit is an important tool to boost regional economies and facilitate credit to micro, small and medium-sized businesses in Mexico.

There is also no opening fee or penalty for early payment. The amount granted can reach up to 5 million pesos, respecting the maximum value of each entity.

Companies can pay this credit in up to 60 months and only begin to pay after 6 months, according to the policy of each financial intermediary and financing objective.

The annual fixed interest rate is a maximum of 14.75% and up to 2.5 million, there is no need or obligation to present collateral.

Above this value, what governs are the internal policies of each bank.

The target audience for this credit is micro, small and medium-sized businesses, as well as individuals with business activity with a validation certificate.

However, this audience must be located where this funding is implemented.

Key application requirements include, for example:

Good credit history;
Validation certificate;
Be a formally incorporated company.

Preference is also given for the operating time of the applicant company, which must be 2 years.

However, although it is a strong preference, it is not a rule.

To obtain this credit, you must request your validation card at the counter in your state.

On the page of NAFIN We find the names of the participating banks by state and also the rate applied.

Once the state issues your ID, you will need to send it to the participating bank you chose.

In the next step you must integrate the credit file according to the bank's requirements.

The integration of the credit file can also be done on the page NAFIN. After this process, you must sign the credit application and authorization to consult the Credit Bureau.

On the page, the institution also provides some contacts from different channels so that interested parties can contact me and make inquiries about this credit.

4. Business Financing

Are you responsible for an SME and need credit to grow your business? Without a doubt, the Business Financing available at NAFIN can be a good solution.

The amount financed can reach up to 20 million pesos, while the annual interest rate applies depending on the destination of the money.

The credit term is a maximum of 5 years and the money can be used for working capital or fixed assets.

Soon, financing is provided by a commercial bank, with the support of NAFIN.

In this way, it can help Mexican micro, small and medium-sized companies have greater autonomy and develop.

The credit is intended for Mexican companies in the industry, commerce and services sectors.

To request it you must go to the bank of your choice that participates in this project. Bring or present all necessary documentation.

Always make sure you meet the requirements, so you don't get frustrated if financing isn't proven.

In turn, the bank will carry out a credit analysis to determine your authorization.

If approved, you must formalize the contract with the bank.

To speed up the process, in addition to having a good track record and at least two years of experience, you must check if you have enough flow generation to face the financing.

Among the list of banks where it is possible to request Business Financing we find, for example:

Say;
Banbajío;
Mifel Bank;
Bancopel;
Banorte;
Bangerio;
Multiva Bank;
BBVA;
HSBC.

5. Sustainable Eco Credit

With this modality, the entrepreneur receives credit to invest in installing, replacing or purchasing more environmentally friendly, sustainable and resource-saving equipment.

The amount available can reach up to 15 million pesos and the annual fixed rate is one more than some alternatives already mentioned in this text: 16%.

Regarding the terms, the grace period can be up to 6 months and the payment period can be up to 8 years.

It also offers a subsidy for energy diagnosis of up to 100% of the cost of the study.

This alternative can only be used to purchase eligible equipment, including, for example:

Air conditioner;
Efficient lighting;
Boilers and furnaces;
Cold chambers;
Dryers;
Electric motor.

According to NAFIN, this may be requested by the following public:

Small and medium-sized companies that use the CFE in PDBT and monthly rates;
GDBT and industrial tariffs GDMTO AND GDMTH.

These companies must want to save energy, in addition to other important actions for the environment, by replacing equipment.

The application process can be started on the NAFIN page, simply complete the pre-eligibility questionnaire and continue with the next steps.

The banks that can provide you with this type of credit are: Affirm, Banco Bajío BBVA, Citibanamex and Mifel.

6. Eco Business Credit

Eco Empresarial Credit works like a loan with a debit on the energy bill. This is because debt collection is done through an electricity bill.

Offers an energy incentive of 10% of the cost of replaced equipment.

The requested amount can be up to 1.3 million pesos, which can be paid in up to 60 months.

Please see applicable rates below:

15.50% + VAT for credit with amounts up to 250 thousand pesos;
14,75% + VAT for credits with amounts greater than 250 thousand pesos.

This credit must also be used for the acquisition and/or replacement of obsolete equipment, through FIDE.

It also has a list of eligible equipment, which you can consult on the NAFIN page.

The request must be made to the Electricity Savings Trust (FIDE), by FIDETEL or to the email: [email protected].

Conclusion

In NAFIN you will find different credit options to invest and make grow your business, as well as free financial and legal advice.

We have mentioned the main financing options in this text, but on the institution's official website you will still find some more options.

Learn about each alternative and its main characteristics, especially the interest rate, and see which is the ideal option for your business.

Written by Nara Updated March 25, 2024

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