• This initiative, in collaboration with Nacional Financiera and the Ministry of Finance and Public Credit (SHCP), seeks to promote the culture of savings and financial education
  • Financial for Bienestar gives Millions of Credits in 4T

During the five and a half years of the administration of the Fourth Transformation, Financiera para el Bienestar (Finabien) has distributed more than 2 million 843 thousand 675 loans to small family businesses, reported the general director of the institution, María del Rocío Mejía Flores.

In a morning press conference with President Andrés Manuel López Obrador, it was highlighted that these social loans have represented an investment of 46,268 million pesos, benefiting those businesses that do not have access to traditional commercial banking due to the lack of endorsements and guarantees.

Mejía Flores highlighted that in the last two years, Financiera para el Bienestar has not required a fiscal budget, thanks to compliance with the payments of the loans granted.

Since 2018, the institution has offered various programs such as Tandas para el Bienestar, Solidarity Credits, Credits to the Word, Hope 1 and 2, Women’s Freedom Credit, and support for Collectives and Cooperatives.

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Financial for Bienestar gives Millions of Credits in 4T

Microbusiness support programs

The Tandas para el Bienestar and Solidarity Credits programs have focused mainly on businesses in ten states: Veracruz, Chiapas, State of Mexico, Guerrero, Oaxaca, Puebla, Tabasco, Michoacán, Hidalgo and Tlaxcala.

These loans have been a crucial tool to boost the local economy and strengthen small businesses.

During the COVID-19 emergency, Word Credits were essential to support businesses in large cities that were seriously affected.

Among the entities that benefited the most were Mexico City, Veracruz and the State of Mexico.

In Guerrero, Esperanza Credits allowed small businesses in Acapulco to recover after the devastating Hurricane Otis in October 2023, with an investment of 345 million pesos.

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Financial for Bienestar gives Millions of Credits in 4T

Facilitation of remittances and popular savings

Financiera para el Bienestar has stood out in improving the conditions for receiving and sending remittances, recognizing the efforts of migrants in the United States.

The institution offers two channels for this purpose: traditional and digital. In the traditional model, fellow citizens in the United States can send money without commissions and with a better exchange rate through Financiera para el Bienestar.

The digital channel includes the Financial Card for Wellbeing, launched on May 1, 2023, which makes it easier and cheaper to send money through an application.

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Financial for Bienestar gives Millions of Credits in 4T

To date, 76,265 cards have been activated in the United States, transferring 10,472,190 dollars to families in Mexico.

The card, which charges a fee of $3.99, allows payments and transfers to be made in both the United States and Mexico, in addition to offering savings and payroll receiving services.

Financial for Bienestar gives Millions of Credits in 4T

Financial inclusion and additional services

As part of its commitment to inclusion and financial education, Financiera para el Bienestar has created a savings tool through Cetes Directo, allowing you to open an account from 100 pesos with higher returns.

This initiative, in collaboration with Nacional Financiera and the Ministry of Finance and Public Credit (SHCP), seeks to promote the culture of savings and financial education.

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Financial for Bienestar gives Millions of Credits in 4T

The institution, previously known as Telecomm, has 1,700 branches where you can also purchase CFE SIM cards internet for All, with packages from 50 pesos, offering access to telephone, messaging and social networks.

During the report, the Director of Credits, Elia Eugenia López Mandujano, and the Director of the Branch Network, Edgar Horacio Esquivel Martínez, accompanied the General Director of Finabien, María del Rocío Mejía Flores.

R. Financial for Bienestar gives Millions of Credits in 4T

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