State development bank Nacional Financiera (Nafin) will channel more than 3 billion pesos (US$ 273.7 million) in loans to small- and medium-sized companies (SMEs) in the northern state of Coahuila this year, reported officials from the institution.
The state director of Nafin in Coahuila, Castillo Ornelas, said in an interview that in the first eight months of the year the bank had channelled 2.15 billion pesos (US$196.2 million) to 1,400 companies in Coahuila state. He said that these funds were used for working capital and for purchases of machinery and equipment, which will allow them to continue working efficiently.
Castillo Arnelas mentioned that Nafin has around a billion pesos more to aid companies in Coahuila and, should further resources be needed, more money would be requested.
