Credits for Merchants in Tianguis and Markets on Wheels
This is a Fondeso program aimed at meeting the credit needs of economic agents who participate in the marketing channels for perishable and basic consumption products of the capital’s population, for the improvement and modernization of their activities.
The loan aims to provide support to people over 18 years of age who carry out economic activities with this type of scheme in Mexico City, and who are seeking financing for their business.
How much are the credits?
This program works under a gradual scheme that considers three financial products, each one scaled. This allows applicants to access larger amounts as long as they have requested and settled the previous loan, and maintained a good credit history.
These are the amounts and payment conditions:
First level of credit
Minimum amount: $6,000.00 (Six Thousand Pesos 00/100 MN)
Maximum amount: $10,000.00 (Ten thousand pesos 00/100 MN)
Ordinary interest rate: 0.25% biweekly on the total credit granted
Payment term: 6 months
Payment method: biweekly
Second level of credit
Minimum amount: $11,000.00 (Eleven thousand pesos 00/100 MN)
Maximum amount: $15,000.00 (Fifteen thousand pesos 00/100 MN)
Ordinary interest rate: 0.25% biweekly on the total credit granted
Payment term: 7 months
Payment method: biweekly
Third level of credit
Minimum amount: $16,000.00 (Sixteen thousand pesos 00/100 MN)
Maximum amount: $20,000.00 (Twenty thousand pesos 00/100 MN)
Ordinary interest rate: 0.25% biweekly on the total credit granted
Payment term: 9 months
Payment method: biweekly
Requirements
It is necessary to comply with a series of requirements determined by the Operating Rules, which define whether the credit is requested individually or as a group.
Individual
- Take a business course taught by FONDESO.
- Current official identification (voter ID, professional ID or passport). Proof of address valid for a maximum of 3 months (statement of account for local landline or mobile telephone service, digital services, property tax, water service, electric power service and banking services and/or certificate of residence. For rural municipalities, a certificate of residence or proof of address is accepted).
- Unique Population Registry Key (CURP).
- Have a joint obligor (a person with a minimum age of 18, who is obligated and assumes the commitment of the borrower’s payment obligation) and present their valid official identification, CURP and Proof of address with a maximum validity of 3 months.
- Business project format.
- Credit application form.
- Privacy notice .
- Starting from the 2nd credit level, a certificate of non-debt issued by FONDESO must be presented.
Group
Applicants for Microcredits in the Solidarity Group modality must form a group of at least three and a maximum of five people to access credits from the First to the Third level. The procedure will be carried out by a representative of the group, who must present the following documents for each member:
- Take a business course taught by FONDESO.
- Current official identification (voter ID, professional ID or passport) Proof of address valid for a maximum of 3 months (statement of account for local landline or mobile telephone service, digital services, property tax, water service, electricity service and banking services and/or certificate of residence. For rural municipalities, a certificate of residence or proof of address is accepted).
- Unique Population Registry Key (CURP).
- Business project format (one per solidarity group).
- Credit application form.
- Act of constitution of a solidarity group.
- Privacy notice.
- Starting from the 2nd credit level, a certificate of non-debt issued by FONDESO must be presented.
How to apply?
First, you must know and choose the type of credit that best suits the needs of your business. Then, you must take a course or workshop on business matters taught or coordinated by Fondeso.
Courses last four hours, either in person or online. Keep an eye on the institution’s official social media for the schedule. Or you can access the following link and check dates: https://www.fondeso.cdmx.gob.mx/servicios/servicio/capacitacion
✅Don’t miss out! You can now register for our online and in-person courses at our central offices 🧑🏫🏦from September 2024
➡️Remember that they are valid as a requirement to access a loan with us➡️ https://t.co/UICEQJ3d4l pic.twitter.com/c0BzUQXqVs— Fund for Social Development (@FondesoCDMX) August 28, 2024
Once you have taken the course, you must go to the Fondeso module of the municipality where your business is located. When requesting it, you must mention the day and type of training you took, and submit the corresponding documentation.
The modules are open from Monday to Friday from 9:00 a.m. to 3:00 p.m., and you can find the one that corresponds to you on the following page https://www.fondeso.cdmx.gob.mx/modulos
