Ministry of Economy, BBVA Modernize Textile and Footwear Sectors

Mexico’s Ministry of Economy and BBVA México announced a joint initiative to modernize the country’s textile and footwear industries through a new plan that will provide up to MX$120 billion in financing guarantees aimed at improving productivity, digitalization, and competitiveness across the supply chain.

The Plan for the Promotion of the Textile and Footwear Sector targets an industry that employs more than 1.2 million workers nationwide, where over 85% of production units are MSMEs. The program seeks to expand access to credit, strengthen formalization and upgrade outdated manufacturing processes.

The initiative is structured around three pillars: digitalization and financial inclusion, preferential financing, and specialized training. It also includes guarantees through Nacional Financiera (NAFIN) paired with preferential interest rates and zero opening commissions for working capital, equipment purchases and process modernization.

During the announcement, Minister of Economy Marcelo Ebrard said the partnership with BBVA México and NAFIN is designed to address high costs of credit access, a barrier affecting SMEs in the sector. He said the program aims to create more competitive conditions in an industry challenged by informality, limited financial inclusion, and international competition.

Digitalization and Banking Services

Eduardo Osuna, Vice President and Director General, BBVA México, said textile and footwear manufacturers have strong social impact but face persistent gaps in digitalization and access to financing. The agreement, he said, responds to those needs through financial tools and business training.

Under the first pillar, thousands of MSMEs will be eligible for free account openings, card readers without monthly fees, and commission-free transfers to help build financial histories and qualify for formal credit.

The second pillar expands access to NAFIN-backed guarantees for working capital, machinery acquisition, and modernization of production processes, along with factoring and confirming services to help convert invoices into liquidity and prevent supply-chain disruptions.

The third pillar, developed with support from IPADE Business School, offers technical, financial, and management training programs both in-person and online to help entrepreneurs enter broader markets and adopt modern business practices.

The initiative underscores Mexico’s push to reinforce a strategic industry marked by high employment, MSME concentration and increasing global competition. With new credit mechanisms, digital tools and professional training, the textile and footwear sectors aim to transition toward more competitive, formal and technology-driven production models.

Guanajuato and Bamex Partner for SMEs Financing 

In related news, MBN reported that Banamex and Guanajuato’s Ministry of Economy signed a collaboration agreement to support SMEs with preferential financing, online store services, free point-of-sale terminals, conferences, and exclusive benefits, including the Mujer Empresaria (Business Woman) program. The agreement aims to strengthen local production companies by offering a range of financial and support services to formally established SMEs in Guanajuato. Those businesses will receive a three-month free SMEs Package, which includes electronic banking, national and international transfers, as well as payment, and account management services.

Additionally, SMEs can access an amortizable loan with a 0% commission on contracting and a fixed interest rate of 14.75%. Point-of-sale terminals are provided without affiliation fees and with six months of free rental. Businesses will also benefit from an online store with development and implementation included, one year without affiliation fees, and access to the Negocio Protegido (Protected Business) program with a 10% discount.

The partnership also includes access to business conferences and analyses, along with exclusive benefits under the Mujer Empresaria (Woman Entrepreneur) program. Services include business assistance such as electrical, locksmith, glass, and plumbing services, as well as wellness offerings like fitness coaching, nutritional coaching, and chauffeur-driven transportation.