Negotiations by CICEG improve credit to leather and shoe sector
Following negotiations with federal and state governments and local commercial banks, Mexico’s CICEG - the Chamber of the Footwear Industry of the State of Guanajuato – has managed to secure credit for MXN106.5 million (US$ 9,861,560) for companies operating within the leather, footwear and leathergoods supply chain.
According to the latest report from the State System of Development Financing (Sefide), 147 companies have been granted loans worth MXN 71.6 million ($6,629,629) in accordance with the Support Guarantee Fund for the leather, footwear and leathergoods supply chain. Of these loans MXN 56.7 million was provided by the Banco del Bajío in the form of 97 loans, and MXN 14.9 million has been released by the Banco Santander in 50 separate loans.
The Fondos Guanajuato Programme has granted 164 loans for a total amount of MXN7.2 million (US$ 666,666).
Another 20 credit applications from companies within the sector for a total of MXN 8.6 million ($ 796,296) are currently being considered, and another 51 loans amounting to MXN 27.4 million ($ 2,537,037) are currently under negotiation.
