Financing for SMBs is an essential component for the beginning of new businesses, allowing them to expand their operations or implement new services quickly without jeopardizing their resources.
According to INEGI figures released by ENAFIN, the percentage of businesses that used some form of credit since their inception ranged from 40% to 47% between 2015 and 2021. This demonstrates that funding sources for SMBs in Mexico are in high demand, though the number may increase, and one way to encourage businesses to consider financial products is to educate them on the requirements for obtaining them.
5 steps to requesting and obtaining funding for SMBs
Consider the following points if your company is looking for capital and funding, or if you want to learn more about the process of obtaining credit in the future.
Pymes Capital makes various financial products available to you for your business and innovation, and this is what you must do to obtain them:
Organize your financial records.
To be able to access funding for pymes in Mexico, these last must provide their RFC as well as their Confidencial Electronic Identity Clave (or password). This ensures that the applicant’s company is given a high score on the SAT, which can then be verified.
This ensures that the applicant’s company is given a score on the SAT and that their financial situation can be verified later.
Have a provider of Terminal Point of Sale
It is critical to work with a Terminal Point of Sale (POS) provider because this allows you to manage your inventory and gain control of your business’s sales and payments using credit and debit cards. When applying for credit, it is critical to be able to analyze the monthly payments that the business receives through this channel.
Fill out the form
Following that, once inside the Pymes Capital platform, the first step is to fill out the contact form, which requires the interested party’s name, email address, commercial address, and the previously mentioned SAT identifiers: the RFC and the CIEC, so that these data can be included in a credit analysis API.
Similarly, the credentials of the provider of Terminal Point of Sale (as previously mentioned) are required to learn about the sales made with credit cards.
Work with a 6-month minimum operation period
To be eligible for this type of capital and financing for pymes at Pymes Capital, the applicant company must have been in operation for at least 6 months and have a monthly sales average of more than $25,000 mexican pesos. This time period allows for greater clarity about the operation of the company and its ability to meet credit commitments.
Obtaining a personal guarantee
In the majority of cases, a personal guarantee is requested in order to obtain credit.
Request Financing for SMBs
Completing these simple steps may bring you closer to obtaining a loan for your business, and an added benefit is that the applicant will not have to wait days for a decision, as it will be given in just a few hours.
As a result, if you have a project that you want to grow, contact Pymes Capital,, where you will find a tailored credit package that is quick and simple to help you strengthen your business and achieve your business and innovation goals