- Credijusto provides asset-backed loans and equipment leases to small and medium-sized enterprises;
- The solution will be available in the 70 Mexican cities where Uber Eats currently operates.
Uber Eats and Credijusto are teaming up to provide financing of up to MXN 4 million to Mexican restaurants, the company said on a blog post.
Credijusto provides asset-backed loans and equipment leases to small and medium-sized enterprises. More than 25,000 restaurants registered in the Uber Eats app in Mexico may request loans from Credijusto of up to MXN 4 million and with terms of up to 24 months without prepayment penalties, Uber has said.
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The solution will be available in the 70 Mexican cities where Uber Eats currently operates. According to the company, about 40% of the restaurants say that the main obstacle to growing their business is the lack of access to credit and more than 55% say that, if they had a loan, they would use it to expand their business.
“Since the beginning of this pandemic, we have focused our actions on helping restaurants overcome the crisis by boosting their demand and providing them with new revenue opportunities. We have partnered with Credijusto because it ties in with our mission to support the Mexican restaurant industry, as well as our vision of offering 100% digital solutions so that restaurants can take their businesses to the next level,” said José García-Pimentel, General Director of Uber Eats in Mexico.
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Allan Apoj, co-founder of Credijusto, stated that small and medium-sized companies in Mexico face an important gap: they generate more than 52% of the country’s GDP but only access 20% of the available credit. “We are very proud to have developed this exclusive product for Uber Eats, with a 100% digital process so that restaurants can strengthen themselves in these moments where they really need it,” he said.