Loans will be given to micro-businesses starting Monday

MEXICO CITY (Notimex) – This Thursday, during his customary morning press conference, Mexico’s President Andres Manuel Lopez Obrador announced that starting next Monday, he will begin handing out 25,000-peso credits (Aproximetely 1020.82 USD) to small businesses that were supportive and did not lay off their workers during the first quarter of the year, when the new SARS-Cov-2 began to be registered.

The president said: “these credits will be given soon, there will be companies that will receive them soon. As of next Monday, they will begin to disperse”. The president said 

AMLO indicated that the delivery mechanisms are already in place, and the possible beneficiaries are being consulted so that they can receive the support directly and without intermediaries.

In Mexico, the concept of a micro-company is a term used to differentiate a business by the monthly or annual income it has, in addition to size. It is contained within the category of SMEs.

Microenterprises are usually created for various reasons, including the need for income to survive or to find an economic outlet for various skills. Also, because they want to develop from the base, that is to say, they aspire to medium and/or big enterprises.

The microentrepreneur is not only the owner but also has direct participation in its development; that is, he is just another worker. There are even microentrepreneurs who do not have employees.

Characteristics of the micro-company
It has a maximum of 6 employees, only in some cases, this figure is exceeded to a total of 10. The owner is counted among the workers and has a limited turnover, which means that it does not easily allow for growth.