SOFOM
MODEL
The engines of investment and economic development of the country
A SOFOM is a Multiple Purpose Financial Institution that can grant any type of credit to individuals, small and medium-sized enterprises, including leasing and financial factoring, as well as act as trustee in guarantee trusts, clarifying that they cannot raise funds from the general public
There are two models of SOFOM´s
SOFOM´s ER
Are companies whose assets are
linked to a Bank
SOFOM´s ENR
Are companies that provide credit with their own capital and can access lines of credit from Government Banks to increase the volume of credit for their clients
SOFOM´s 4.0
SOFOM´s are integrating automated processes with elements such as fingerprint recognition, geolocation, and application programming interfaces (APIs), which decrease the margin of error and enhance productivity
These SOFOM´s are currently leveraging technology as their primary tool to become
Financial Technology Institutions (FINTECH)
SOFOM´s currently represent one of the most relevant sources of financing for the private sector, second only to banks
SOFOM´s benefits
SOFOM´s contribute effectively to the recovery of the industry in Mexico by implementing new plans and strategies to finance increasingly more productive projects, thus contributing to the economic recovery and job creation
According to the Bank of Mexico, currently 60% of companies in Mexico get their first line of credit from a SOFOM, which makes SOFOM´s a key figure for financing small and medium-sized enterprises (SMEs) in our country