Fintech see opportunity to finance SMEs

In the Mexican regulated fintech universe there are various entities dedicated to collective financing (crowdfunding), a figure contemplated in the Law to Regulate Financial Technology Institutions, also known as the Fintech Law, among the entities that operate their activities are dedicated to connecting people for investment and financing.

Of the models that have proliferated in the regulated universe in Crowdfunding Institutions, some entities have focused on the segment of small and medium-sized companies since, they point out, the flexibility of technology allows them to better serve and more of this type of organizations.

One of the recently authorized entities, FinSphera seeks to facilitate financing to the segment that has been underserved. He points out that once it receives the endorsement of the National Banking and Securities Commission (CNBV), it will provide financing to SMEs, through a model that rewards sustainability.

The bank can take two or three months to authorize a line of credit, the advantage of a fintech is that through technology that time can be reduced in days, models such as crowdfunding allow an SME to go through a credit analysis , which are later published in the fintech channels and that is where investors gather for the amount of the loans”, commented Alberto Ratia, co-founder of Finsphera.

The rules for the operation of entities with a crowdfunding model are provided for in the first chapter of the Fintech Law, which establishes that funding activities must be carried out through computer applications, interfaces, Internet pages or any other digital channel. .

However, the collection of information for the credit approval of the applicants continues as a manual activity, in this sense the recently approved IFC points out that being a totally digital entity, they will seek that the information collection is done in the same way.

“Normally, SMEs have a lot of information in the Tax Administration Service (SAT), because they have to pay taxes. We as an entity with the approval of the companies will be able to download this information, now with digital invoices it is much easier to carry out a credit analysis and much faster, because the human factor practically does not intervene at the time of doing an analysis Ratia pointed out.

In search of sustainability

From financial technology, it seeks to finance projects and companies that contribute environmental values, entities such as RedGirasol, seek from crowdfunding to support proposals that generate environmental and social benefits. In the case of Finsphera, it will seek to promote SMEs with sustainability policies.

“Technology companies are taking variables that are not taken today and through this positive reinforcement what we are saying to the market is that the cost of financing for SMEs can really be much lower, once they implement these practices,” he commented. Mario Adrián Cruz Espíndola, co-founder of the fintech.

The firms that operate under the Fintech Law add up to 15 regulated IFCs, while of the other figure contemplated, the Electronic Payment Fund Institutions (IFPE) amount to 28. Of the collective financing entities, only three are in authorized status, so they have not started operations yet, according to the Catalog of the Mexican Financial System.

sebastian.estrada@eleconomista.mx