Pymes buscan financed alternate options to overcome bank restrictions

According to the National Securities Commission, the instruments it regulates constitute the primary source of financing for small and medium-sized businesses, while in August 2025 it enabled transfer operations to expand liquidity and reduce access costs. In a context where bank commissions are high, waiting periods are long and requirements are difficult to meet, these market alternatives are gaining ground among companies seeking working capital.

More options to convert receivables and obtain guarantees

Deferred payment checks allow companies to anticipate funds by negotiating the instrument in the market. Promissory notes perform a similar function, although they offer greater flexibility in terms of maturities. Electronic Mipyme credit invoices turn accounts receivable into available liquidity, negotiable obligations enable companies to issue debt for working capital, and financial trusts allow financing to be structured from company assets or own cash flows.

Mutual guarantee societies also play a supporting role by providing guarantees that improve the conditions under which a small or medium-sized business accesses credit. Between January and May 2026, the system granted 92,258 guarantees totaling 1.84 trillion pesos, according to Untref ACR UP. A 2026 resolution from the Secretariat of Industry relaxed the requirements for guarantees denominated in foreign currency, enabled contracts with electronic signatures and incorporated the use of blockchain in guarantees.

Cash on hand and the challenge of preserving purchasing power

The National Institute of Statistics and Census reported September inflation of 1.9 percent on a monthly basis, which implies that an annual rate of between 22 and 23 percent is needed to avoid losing purchasing power. However, the ten banks with the highest volume of deposits pay annual rates of between 16 and 21 percent for fixed-term deposits in pesos, below that threshold.

For companies with excess funds in dollars, staking offers another avenue: digital assets are delegated to a blockchain network in exchange for a return. The most direct route does not require a minimum amount, the funds remain liquid and there are no penalties, although the first rewards take between 15 and 20 days to become available. This option also entails exposure to the specific risks of digital assets and the platforms involved.

“Each alternative has distinct costs, maturities and risks, and access depends on the payment history and financial situation of each company.”Federico Jozami

• Deferred payment checks and promissory notes to anticipate funds.
• Electronic Mipyme credit invoices to convert receivables into liquidity.
• Negotiable obligations and financial trusts to finance working capital.
• Mutual guarantee society backing to improve credit access conditions.
• Staking for companies holding surplus funds in dollars, subject to digital asset risks.