Credit Lines Readily Available for Expo Pack/Procesa Visitors
May 17, 2010—
Major regional and global financial institutions are participating in the Expo Pack Mexico and Procesa 2010 Financial Pavilion to support the small- and medium-sized businesses that account for over half of Mexico's GDP. The participating banks will have lines of credit ready for companies looking to buy new machinery, services and packaging and processing materials during the show.
"Many of these companies are behind the technological curve because of lack of funding," says Jose Martinez, PMMI director for Latin America. "The financial resources these banks provide can help strengthen business alliances and opportunities for export for SMEs, and they've been telling us throughout the Expo Pack Mexico promotional tour that they are ready to invest in new packaging machinery and packaging goods.
"These small and medium sized businesses currently account for 72 percent of formal employment in our country, making it a vital issue that they are supported by financing, marketing strategies, training and technological development."
The Financial Pavilion aims to have services available for companies of all sizes. The Ex-Im Bank and PNC Bank offer credits starting at $500,000, and North Star credits start at $100,000; other banks, such as EDC, offer credits for smaller amounts. International banks with branches in many countries will have information tailored for Mexican and Central American buyers.
"With growing packaged goods demand in the region, it is necessary for the 15,000 [small- and medium-sized businesses] in Mexico to increase their efficiencies in their operations. With financing assistance, these companies are able to purchase from innovative packaging and processing suppliers to modernize their business processes, become more efficient and grow increasingly competitive in the global marketplace," Martinez says.
Expo Pack Mexico takes place June 22-25, in Mexico City.