Where is the Capital to Grow a Business Today?

Capital for business growth is no longer found in a single source. In Mexico, alternatives range from suppliers and commercial banking to fintech, development banking, foreign investment, and private equity. However, this new ecosystem has not only expanded financing options but also raised selection criteria.

According to the Bank of Mexico, during the fourth quarter of 2025, 62.2% of companies utilized supplier financing, while 26.5% turned to commercial banking. Furthermore, only 15.3% of companies used new bank loans during that period.

Access to Capital Requires Greater Preparation

The “National Survey of Business Financing 2024” by Inegi reveals that from 2022 to 2024, 57.5% of companies that had sought financing since the start of their operations did so within this timeframe. By size, the percentage was higher for medium-sized companies at 71.3% and large companies at 65.1%. In contrast, small businesses accounted for 57.6% and microenterprises for 53.8%.

Additionally, among companies that applied for credit between 2022 and 2024, 82.8% approached banks, 28.5% turned to suppliers, and 12.7% relied on family or friends. Collective financing, on the other hand, represented barely 0.5% of applications.

These figures indicate that

is not solely dependent on the existence of more options. It also depends on companies’ ability to demonstrate formality, cash flow, collateral, credit history, and a clear growth strategy.

Barriers to Accessing Capital

Despite the increased availability of alternatives, many companies still face structural obstacles. Inegi reported that between 2022 and 2024, 13,795 companies had at least one credit application for a larger amount rejected. The primary reasons cited were a lack of collateral or guarantees (21.6%) and no credit history (18.4%).

Lack of financing has direct operational consequences. Among affected companies, 45% reported delays in expansion or machinery purchases, 38.2% canceled investments, and 23.1% canceled contracts, orders, or services with clients or suppliers.

Therefore, capital represents more than just liquidity; it defines a company’s capacity to grow, invest, modernize, and respond to new market opportunities.

The Advancement of Digital Financing

Digital financing has gained traction, though it has not yet displaced traditional sources. According to “Enafin 2024,” 75.5% of companies are aware of financial technology, but only 40.1% utilize at least one.

Among those using these tools, e-wallets are the most common, at 88.5%. Collective financing, however, represents a mere 2.5%.

Growing with Capital Requires Strategy

The new business financing landscape confirms that capital is more diversified but also more demanding. Companies that access it most easily are those with organized financial information, internal controls, tax compliance, a credit history, and a clear growth path.

In the current environment, growing with capital requires balance. Companies must accelerate without compromising operations, invest without losing financial control, and professionalize before growth outpaces internal capacity.

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