Loan seeks to place 19,000 mdp in online credits

Platform credits are offered throughout Mexico and range from 10,000 to 250,000 pesos, with rates ranging from 8.9% per annum for a personal loan, no guarantee and all online.

Prestadero, a Mexican online credit broker, seeks to place more than 19 billion pesos (mdp) in 2022 among national internet users, and bring its lending system to Latin America and Central America in the long run.

In 2016, Prestadero closed with 65 mdp in released loans, while in the accumulated since 2012, when they started operating, the firm carried more than 118 mdp.

"What we want to achieve is to activate more users, as some do not yet encourage the fondness of credits within the platform (via the internet). We believe that the ease of applying for a credit will be a competitive advantage in the financial platforms in Mexico," said Gerardo Obregón, CEO of Prestadero.

The company, which offers to contact credit applicants with lenders who can grant it, even sees a potential market in the United States with the Latino community as well.

Countries such as Colombia, Brazil and Peru look attractive to Prestadero, the manager added.

"We've invested a lot in the platform, and the idea is to leverage that technology we already have in other countries," he said.

Platform credits are offered throughout Mexico and range from 10,000 to 250,000 pesos, with rates ranging from 8.9% per annum for a personal loan, no guarantee and all online.

"We are thinking of growing to triple digits annually and expect to reach 2022 by releasing more than $1 billion (more than 19,000 mdp at current exchange rate) in loans in loans alone in that year alone. Growth sounds very big, but compared to the increase in platforms in other countries, we are even looking conservative," he said.

Currently, the firm already has almost 160,000 users, of whom only about 13,000 are registered as lenders on the platform, but only 3,500 already have funds and are already lending, while the rest are applicants, the manager explained.

In six years, the company expects to have more than one million people registered on the platform.

To do this, the firm seeks to make it faster, make the process easier, have availability on any day and time, and provide better interest rates to be able to place a credit.

"There is a possibility (to expand services to other countries), but we believe that Mexico is a country attractive enough to consolidate us here. Since we are more consolidated we could think of an expansion," he said.

You may be interested: Loan: a different option in credits

This type of lending system is used in places such as the United States, Australia, United Kingdom, Canada and Spain.

"Mexico must increase access to credit in the country, which as part of gross domestic product (GDP) accounts for 32.7%, Chile's is 111% and the U.S. is 190%, which is linked to economic development," the manager said.

Obregón indicated that sector-specific regulation would help boost such credit systems.

The firm sees major movements in Mexico City, the State of Mexico, Nuevo León and Jalisco.

On the platform, 63.6% of the credits go to consolidate other debts, 15.6% for business, 7.8% for the home, 4.9% for the automobile, 2.2% for education and the rest for other topics.

Source: Forbes

Leave a comment