Nowports Launches Financing Service for Mexican SMEs

Nowports, Latin America’s first digital freight forwarder, has launched a financing service tailored for Mexican SMEs, aiming to provide a quick and efficient credit access solution. This financing service is specifically designed to address the needs of these businesses, enabling them to manage their logistics operations while accessing flexible and efficient credit.

“Our goal is to bring these three services into a unified experience so clients do not need to deal with different teams. We aim to save our clients hours typically spent on filing paperwork, obtaining reports, and accessing financial insights that may not be immediately visible to finance and logistics teams,” says Alfonso De los Ríos, CEO and Co-Founder, Nowports. 

Nowports is offering SMEs up to US$250,000 in capital to facilitate the purchase of products abroad, bypassing the common hurdles posed by traditional banking.

SMEs face several hurdles in accessing financing in Mexico and Latin America, reports the company. These include limited access to financing, as only 9.6% of credit to the non-financial private sector in Mexico is directed to SMEs. These companies also often lack credit history, which leads to up to 80% of credit applications being rejected. Finally, SMEs often receive loans with high interest rates and have to deal with excessive paperwork.

​​Nowports’ digital platform offers credit and includes advanced functionalities that optimize supply chain management. Key features include: rapid quotes in under 30 minutes, shipment tracking on an interactive map, configurable alerts to keep clients informed, and document management and invoice downloads.

Nowports has designed its platform to be accessible from web browsers and mobile applications for iOS and Android, enabling clients to operate from anywhere. This flexibility removes barriers and provides an agile, cost-free user experience.

“SMEs are the engine of the Latin American economy, and their growth depends on access to fast and flexible financing. Our platform not only provides credit for inventory but also integrates logistical solutions that optimize operations and enhance competitiveness in the regional market,” says Agustín Danza, Head of Financing, Nowports.

The service integrates logistics, financing, and cargo insurance into a single streamlined experience, eliminating the need for businesses to coordinate with multiple providers, T21 reports.

The company is offering a straightforward and fully online application process with a revolving credit line. The service is now only available to Mexican SMEs, but Nowports plans to expand it to other Latin American countries within 12 to 18 months.