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[BUSINESS] · Mexico · 6 sources

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Tamaulipas government and Banorte launch SME financing initiative

The Tamaulipas Secretariat of Economy and Grupo Financiero Banorte have established a strategic alliance to provide preferential financing for micro, small, and medium-sized enterprises (SMEs) in the state. This initiative, part of Governor Américo Villarreal Anaya’s economic development strategy, aims to help local businesses modernize, expand operations, and increase competitiveness.

Key benefits of the program include SME loans of up to 15 million pesos with 0% opening commissions. Interest rates are offered at a variable annual rate starting from 11.9% or a fixed annual rate starting from 13.95%, subject to bank approval. Additional incentives include business accounts with no minimum opening balance, three months of free membership, no-cost payroll dispersion services, and 15% discounts on insurance with interest-free installment options.

Separately, the state government is analyzing potential tax incentives to reduce the cost of alcohol licenses for small businesses, such as grocery stores and neighborhood shops, to alleviate economic pressure and prevent administrative sanctions.

Entities

Américo Villarreal Anaya · Banorte · Mariana Álvarez Quero · Secretaría de Economía de Tamaulipas · Tamaulipas

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