Chihuahua reaches US$54.4 million in loans for MSMEs

Chihuahua reaches US$54.4 million in loans for MSMEs

CHIHUAHUA - The State Trust for Productive Activities of the State of Chihuahua (Fideapech) reached a historic figure of US$54.4 million in loans granted to more than 900 micro, small and medium-sized enterprises (MSMEs).

The head of the Ministry of Innovation and Economic Development (SIDE), Ulises Fernández Gamboa, highlighted the continuous support provided to small businesses through these financing programs such as the Chihuahua State Fund, Impulso NAFIN and the Productive Inclusion and Solidarity Economy Fund (Fipes).

Regarding the work to strengthen the Sistema de Apertura Rápida de Empresas (SARE) network, the Government of Chihuahua reported that it has 11 offices in operation and has promoted the start-up of 5,130 businesses in the border area of Juarez, in addition to other municipalities such as Nuevo Casas Grandes, Ojinaga, Guachochi, Camargo, Chihuahua, Cuauhtémoc, Parral and Meoqui.

Roberto Martínez Araiza, director of Fideapech, invited agricultural and livestock producers to apply for resources from the Drought Fund, which is operated by the Ministry of Rural Development, which grants loans ranging from 125,000 to 250,000 pesos for the purchase of irrigation systems, repair of hoses and cattle feed, among others.

According to the National Institute of Statistics, Geography and Informatics (INEGI), between May 2019 and 2023 in the country, it is estimated that 1.7 million micro, small and medium-sized enterprises (MiPymes) will be created. In Juarez alone there are currently a total of 42,538 of these establishments, according to the Economic and Social Information.