Venta de empresa: Institución Financiera SOFOM

Datos

The company is a Mexican leading agency marketing, processing and servicing loans made by a non regulated Mexican lending institution, which are repaid by PAYROLL WITHHOLDING. Loans are small-denomination, short-term and unsecured, that are typically due twice a month every payday on terms of 12, 24 or 36 months. The company focuses primarily on servicing loans to low-income government working individuals.

The permitted size of a personal loan payable by payroll withholding is limited to 30% of the net paycheck to the employee, unless the employee authorizes a larger amount of withholding. There is no limit on the permitted interest on the loan. Interests for the loan are based on the total balance.

As of December 30, 2007, the company serviced more than 7,000 loans for an average amount of US$1,100 and has financial assets of US$10 million, through 10 contracts with Municipalities, State Governments and Federal Agencies with a potential market of 580,000 employees.

The payroll withholding personal loan industry has grown rather fast since 2004 in response to a shortage of available short-term consumer credit alternatives from traditional banking institutions.