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Mexico Designs Supports for Small Hotels |
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Monday, July 27, 2020
Mexico.- Mexican authorities have designed an assistance mechanism for small hotels, travel and transportation agencies, which includes credits for 472 million dollars.
The financing program for the hotel sector was specified by the Association of Banks of Mexico.
In addition, it was created by the National Bank for Foreign Trade
(Bancomext) and Nacional Financiera, Nafin, and will be channeled through commercial banks from the Association of Banks of Mexico (ABM).
The aforementioned loans will have a grace period in interest and capital of six months and a repayment period of up to five years.
Medium and small companies dedicated to accommodation services account for 98.9 percent of the hotel industry in Mexico and currently report liquidity needs.
Under this scheme, each company will be able to borrow from a minimum of 9,000 dollars to a maximum of 1.3 million dollars.
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