In addition, a 10% subsidy is offered for prompt payment, provided by the Michoacán government.

Writing / The Voice of Michoacán

Morelia, Michoacan. In conjunction with the Comprehensive Financing System for the Integral Development of Michoacán (Sí Financia), the Secretary of State Tourism (Sectur) launched the Financing Scheme for the Tourism Sector (FINSETUR), with support aimed at small and medium-sized companies of the tourism sector.

Through Finsetur, small and medium-sized tourism companies now have access to loans between 60,000 and 200,000 pesos with an annual rate of 18 percent and a prompt payment subsidy of 10 percent provided by the Government of Michoacán.

In its first stage of operations, 9 certificates of the financing program have been filled out and four credits have been delivered for 200 thousand pesos each, thus supporting the investment and reinvestment of tourism MyPimes.

On the other hand, through FINSETUR, the state administration places special emphasis on promoting the sale of handicrafts, since the subsidy for those who apply the resource in the purchase of Michoacán handicrafts is 12 percent for prompt payment.

The interest rate to be covered by the beneficiary with punctual payment is 8 percent in the case of tourist activities and 6 percent in the purchase of handicrafts.

These credits are aimed at natural or legal persons who are carrying out a business activity in the tourism sector, within one of the 113 municipalities of the state.