Both companies have entered into an alliance to offer loans of up to MX $ 250 million for working capital.
Entrepreneur New Years Leader
Get inspiration from the business resources in our guide and help you meet your goals in 2021.
3 min read
This article has been translated from our Spanish edition using AI technologies. Errors can occur due to this process.
Banorte and Rappi have launched a plan called "RapiContigo," which provides pesos 250 million to provide working capital loans to businesses and restaurants in the Mexican Republic that are linked to supply revenue.
It should be noted that each loan allocated has a cap of up to a million pesos. The above in support of the sector which has been hard hit due to closings and a decrease in allowed guests due to the coronavirus pandemic.
"This program is designed to help thousands of companies with loans to continue their operations, preventing them from closing their doors permanently," the institution said through a statement posted on its Twitter account.
It should be noted that this funding option will be available from January 15th. They invite companies and restaurants that are already allies of Rappi México to register on their portal in the “RapiContigo” program, where they will have the opportunity to request credit for work capital without paying commission for opening and with preferential terms, according to what they indicate in their publication.
Juan Miguel Guerra, General Manager of RappiPay Mexico, stated in this statement: “We want to help our restaurant partners, a group severely affected by the pandemic, reconfigure themselves to thrive again, protect sources of employment and delight their customers. ”.
“For Banorte, the most important thing is that we continue to support one another from Mexicans to Mexicans in difficult times, as we have done since the beginning of the pandemic. Because of this, we are now in solidarity with businesses and restaurants that need a boost to move forward. We will continue to work more closely than ever on companies and families in the country, ”commented José Francisco Martha, General Manager for Payment Methods, Digital Banking and Technology at Grupo Financiero Banorte.
Alejandro Solís, General Manager of Rappi Mexico, concluded the statement with the words: “At Rappi we hold on to an unwavering commitment to Mexico and the restaurant sector. The pandemic caused by Covid-19 has presented this industry with great challenges, which is why we have taken various measures since its inception to minimize the economic impact on our partner restaurants. RappiContigo is another of our actions that we know will help our allies move forward. "