Ra Ximhai (Jun 2018)
FINANCING BUSINESS WOMEN
Abstract
Obtaining a loan in Mexico is not an easy task. Such is the situation of the micro, small and medium enterprise (MiPyMes) sector (Pavón, 2010). Even though they are the main productive driver and employment generator of the country (SE, 2009), these enterprises are considered high risk by commercial banks (Lecuona, 2009). Women suffer this situation even more acutely. The statistics on business women in Mexico, analyzed by the Research Center on High Level Directive Women (2013), reveal that three of every five enterprises established belong to women, who usually lack sufficient collateral to back credit, among other limitations that are attributed to them culturally (SELA, 2010). In this context, different types of funding entities have emerged. Among these is the Sociedad Financiera de Objeto Múltiple (Sofom). This organization, founded in 2006 within the Mexican financial system as a non-bank entity, has had outstanding growth because it grants credit designed for the needs of small-scale businesses (Presburger, 2013). The objective of the study presented here was to evaluate the way in which Sofom has solved the credit needs of women who own businesses and measure the results in terms of the growth of the businesses of the clients affiliated to Sofom. Also, determined was the impact that the use of the credit has had on their families. For the study, we selected a representative sample of women who received loans from Sofom, called Imdeneg S.A. de C.V. , which is located in the municipality of Chimalhuacán, State of Mexico. The results of the survey conducted revealed that the microenterprises have had ready access to credit and have been able to acquire larger volumes of merchandise. This has led to greater development of their skills and capacities, as well as to positive impact on their well-being. Nevertheless, significant capitalization was not observed in most of the microenterprises, making their growth and sustainability difficult.
