Launch of the 'Diverse Financing' program for LGBTQIA + entrepreneurial entrepreneurs

The amount of the FMELGBT + and Viwala credits ranges from 300 thousand to five million pesos.
Launch of the 'Diverse Financing' program for LGBTQIA + entrepreneurial entrepreneurs
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Entrepreneur Staff
3 min read
This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.

The Mexican Federation of LGBT + Entrepreneurs ( FMELGBT + ) and the loan grantor Viwala announced the launch of the “Diverse Financing” program to increase the financial inclusion of LGBTQIA + entrepreneurs and companies that support these communities in the country.

This initiative seeks to support LGBTQIA + businesses and individuals with principal and interest payments directly related to the actual financial performance of the business, giving entrepreneurs flexibility without any dilution of capital.

“Diverse Financing” arises in response to the low access that many members of LGBTQIA + communities have to conventional financial systems. In fact, according to studies by economist MV Lee Badgett, the economic loss for this represents at least 1 percent of the country's Gross Domestic Product (GDP).

"We seek to provide companies with a financing mechanism to enhance business growth and development with a beneficial impact on LGBTQIA + communities," explained Karla Gallardo, General Director of Viwala. "In these times when sales are complex, what we do is grant companies a loan that adapts to their income, this will allow them to continue operating in these difficult times."

It is worth mentioning that all companies that are owned or run by people from the LGBTQIA + community are invited to apply for the program. Each applicant must demonstrate the positive impact that their company has or will have on the LGBTQIA + communities, and will also go through a detailed analysis of the credit and business model carried out by Viwala.

"For the selection of companies we have fast and automated processes, we request simple information and the process is agile, the answer is obtained in 4 days and if the credit is approved, in a period of 10 days they can have the cash deposit in their accounts, "said Gallardo. The amount of the credits ranges from 300 thousand to five million pesos.

Companies interested in being part of Diverse Financing only have to enter and leave us their information in "Request Credit", a Viwala executive will contact you to begin the credit process.

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