Mercado Libre subsidizes working capital loans to 150,000 SMEs

Mercado Libre announced that it will not charge merchants and SME sellers the interest surcharges for arrears in installments due in March for loans granted by Mercado Crédito, the financing system for sales in Mercado Libre and to those who process collections with Mercado Pago (QR or Point).

As reported in a statement Tuesday, the measure benefits 150,000 small business SMEs in Argentina, Brazil and Mexico that use Mercado Crédito to obtain working capital and financing.

These are working capital loans that the platform provides to the SMEs that operate on its platform, the vast majority of which do not have access to traditional bank credit.

“It is a difficult time for the SME economy. Given this scenario, our main objective is to accompany them and offer them alternatives that allow them to cope with this situation, “said Martín de los Santos, senior vice president of Mercado Crédito.

Anyway, the regional e-commerce giant clarified that this bonus is “for all users who have their credits up to date”.

Mercado Creditos offers working capital loans to SMEs that sell through Mercado Libre or that process their collections with Mercado Pago. This platform has granted 600 thousand credits for an amount of 800 million dollars, most of it for working capital.