If you are an entrepreneur interested in growing in the home of the monarch butterfly, let us tell you that there are several supports from the government of Michoacán to start a business with which you can achieve this goal.
Michoacán allows for the creation and development of companies, because in addition to having historical, architectural, natural and cultural wealth, it has a privileged central location that connects with strategic routes in Mexico.
So if you want to start your own business in this state, keep reading to learn about the financing options that the government offers to make your path easier.
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Support from the Michoacán government number data to start a business
The support provided by the Michoacan government is varied, some of which is economic and others focused on business education. And each is intended for a specific group of people: women, migrants or young people.
In this sense, the support from the Michoacán government to start a business are:
Entrepreneur Support Network
Entrepreneurial Space
Yes Finance
Woman Power
Michoacan Dream Productive Investment
Entrepreneurial Challenge
National Entrepreneur Fund
Let's learn more about each one.
1. Entrepreneur Support Network
It is a network that provides timely information on federal government support focused on micro, small and medium-sized enterprises (MSMEs) and entrepreneurs in the state of Michoacán. It is a bridge that connects existing services, products and programs in one place.
Official information page
2. Entrepreneurial Space
It is a space focused on the education and attention of entrepreneurs, producers and SMEs. Its objective is to create self-employment opportunities, facilitating training through courses, workshops and in-person or online diplomas.
Official Facebook page
3. Yes Finance
This program provides a series of government financial aid supports to start a business , including:
Microcredits : direct loans from Sí Financia, ranging from $5,000 MXN to $50,000 MXN.
Mipyme : credit of up to $2,000,000 MXN granted directly from Sí Financia.
Finsetur : credits from $60,000 MXN to $200,000 MXN, granted by the Caja Popular Cercano institution.
Impulso Michoacán : loans from $500,000 MXN to $5,000,000 MXN granted by NAFIN and Commercial Banking.
Financial Inclusion of Priority Population : credit from $79,600 MXN to $1,273,600 MXN, granted by FIRA and Commercial Banking.
Financing for Small and Medium Agri-Food and Rural Enterprises : credit from $1,300,000 to $31,000,000 MXN, financed by FIRA and Commercial Banking.
Official website
4. Woman Power
This other support from the Michoacán government to start a business is focused exclusively on women who are looking to start or grow their business. It provides the following financing:
Microcredit : loan from $5,000 MXN to $50,000 MXN granted by Sí Financia.
SMEs : credit of up to $2,000,000 MXN, delivered by Sí Financia.
Morelia Valladolid : loans from $3,000 MXN to $25,000 MXN, financed by Caja Morelia Valladolid.
Popular Cercano : credit from $350,000 MXN to $500,000 MXN, granted by Caja Popular Cercano.
Impulso Michoacán: Up to $5,000,000 MXN, financed by NAFIN and Commercial Banking.