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Mexico’s ‘SOFOM’ Finance Firms Attempt to Broaden Loan Availability

Michael Perez and Kelsey Reichow

The market presence of Mexican finance companies known as SOFOMES has expanded rapidly since the global financial crisis. The firms largely operate as independent outlets and provide financing to small- and medium-sized companies as well as to consumers for larger purchases. Authorities see SOFOMES as a way to expand credit to Mexico’s informal economy.

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