LatamList – Uber Eats and Credijusto have partnered to offer additional financial support to more than 25,000 Mexican restaurants. The solution will grant the restaurants credit lines of up to $180K.
During the pandemic, Credijusto raised $100M to enable the platform to offer increased support to SMEs that needed it most. The online lending platform will now provide financing to restaurants in more than 70 Mexican cities connected with Uber Eats.
Any restaurants that have been operating for at least one year, have a profitable revenue, and are registered on the SAT in Mexico are eligible for the loans. Depending on a business’ credit history, plans are available at a rate of between 19% and 33%.
Around 40% of restaurants on the Uber Eats platform cite financial instability as the biggest obstacle for growing their business. The scheme will provide valuable aid to restaurants that may have suffered over the past few months due to the pandemic.
Read more on El CEO.
