Bancomext provides US$11.5 million for Baja California

BAJA CALIFORNIA  – A US$11.5-million exchange has been made available for the growth of companies in Baja California, informed the deputy general director of institutional promotion of Nacional Financiera (Nafin) and the National Bank of Foreign Trade (Bancomext), Said Saavedra Bracamonte.

The president of Nafin explained that state companies may request credits from US$15,802 to US$263,375, with terms of paying between three and five years. He added that they have fixed maximum annual rate of 14.5% and that during the past year they managed to finance 76 credits in the state to total US$9.5 million.

Baja California is an entity with a lot of dynamism that generates an impact in the Northwest of the country, he mentioned, especially in the industrial issue that generates strong interest in banking.

He explained that through the Nafin development bank they seek to promote financing to the micro, small or medium businesses through guarantees and funds that can be obtained with commercial banks.

Source: EL IMPARICAL