Tandas for Wellbeing Program: see how it works

The program Tandas for Wellbeing It is an initiative of the Mexican government that seeks to support small businesses and low-income entrepreneurs through accessible loans.

In this text you will discover how this program works, its main features, among other important information.

What is Tandas for Wellbeing?

Tandas para el Bienestar is a social program implemented by the Ministry of Economy of Mexico, which has as its main objective to promote the economic development of low-income communities through the provision of accessible credit and financing.

The program combats the lack of access to financing faced by many small businesses and entrepreneurs, giving them the opportunity to expand their operations and improve their economic situation. 

Target audience of the program

The Microcredit for Wellbeing Program has a specific target audience, that is, it is aimed at certain people.

This category includes men and women with micro-enterprises who need financial resources to leverage or some type of investment or financing.

These people do not have access to the traditional financial sector, but really They need credit to invest in their micro-enterprise.

Tandas Para el Bienestar covers beneficiaries who reside in municipalities and regions affected by medium, high and very high marginalization.

To participate, you must be at least 30 years old. However, young people under the age of 18 who own a microenterprise and the program can benefit from the Microcredit for Well-being. Young People Building the Future. 

Main characteristics of microcredits

To access microcredit, the applicant does not You do not need to prove income or have a credit history, making the program even more accessible.

Besides, No guarantees of any kind are required nor guarantees.

As for financing, there is no interest charged and it is provided on a short-term basis. Not to mention that it is repaid from the beneficiary's income.

Before starting the total amortization, there is a one month grace period, so that the micro-entrepreneur has time to organize his finances and start paying the financing installments.

Speaking of installments, the microcredit can be repaid in up to 10 months.

It is possible Apply for up to 4 consecutive microcredits, as long as the current credit has already been settled.

Microcredit comes in two forms. The first is Consolidation. It is aimed at people with non-agricultural micro-enterprises.

To have access to a Tanda Para el Bienestar, the business must have been in operation for more than 6 months, the person responsible must be over 30 years old and have a valid official identification.

Apart from that, it is also necessary to inform CURP.

The second modality is Month 13 Young People Building the FutureIt is aimed at young people who want to open a business after graduating from the Youth Building the Future Program.

The program also offers courses for future entrepreneurs and micro-entrepreneurs to learn how to manage their businesses.

+ Find out how your business can benefit from the program.

Values

Prices vary depending on the round. Please see below for corresponding values, which may vary up to 20 thousand pesos. 

• First batch: $6.000 (six thousand pesos)
• Second round: US$10,000 (ten thousand pesos)
• Third round: US$15,000 (fifteen thousand pesos)
• Fourth round: $20,000 (twenty thousand pesos)

Conclusion

He Tandas for Wellbeing Program It is an important tool to help microentrepreneurs in the most vulnerable regions of Mexico.

With it, beneficiaries receive the support they need to grow their business and also have the opportunity to learn how to manage it.

In addition to providing fish, an easily accessible microcredit, interest-free and bureaucracy-free, the Mexican government also teaches how to fish, through online courses and training.