Do You Have a MSME? The Ministry of Economic Development in Mexico City Government Could Give You a Loan of 10,000 Pesos.

If you are a micro-entrepreneur, the Ministry of Economic Development (Sedeco) in Mexico City (CDMX) could grant you a credit of 10,000 pesos for a term of 24 months with an ordinary interest rate of zero percent.

Sedeco will do this with the aim of helping CDMX micro, small and medium-sized companies that were affected by the sanitary restrictions of the red traffic light that was experienced in late 2020 and early 2021.

In total, 50 thousand credits will be delivered through the Fund for Social Development (Fondeso).

What are the requirements to obtain a loan?

• Valid identification (voting credential, professional card or passport).
• Unique Population Registry Code (CURP).
• Proof of address valid for a maximum of three months.
• Three photographs that demonstrate the existence of your business, can be images of an establishment or products and services.
• Proof of business address with a minimum validity of three months.
• Have a supportive obligor.

After meeting the requirements, you must start the process by uploading to the system a readable image of each document separately.

Other considerations that you must take into account are that: both the person requesting the loan and their joint obligor must reside in the capital, they must not have a current credit or debt for one due with Fondeso, and they must not be the same person. Likewise, the business must be located in the CDMX.