Prendanet, the first digital pawn shop in México helps SME owners


Prendanet it’s a new tool for the SME owners.

Prendanet was developed as a new toll for the small and medium sized companies owners.

Mexico City, April 16, 2015.- Created specifically with the purpose to give financing tools to the small and medium sized enterprises (SME) known in México as Pymes that commonly have some problems with the access to banking funding the first digital pawn shop in Mexico called Prendanet was introduced.

Ramón Pando Rodríguez, CEO of Prendanet said that one of the biggest problems that the small and medium sized enterprises faces is the shortage of cash flow, reason that could cause the shutting down of the company operations before their first five years.

In Mexico there are 50 million people without access to any financing system, this amount represents a big target to the pawn shop industry who reports annual incomes for 41,000 million pesos number that increase when the banks faces difficult economic situations.

The creation of Prendanet constitute an important step for the SME when they are looking for alternatives to grow because their monthly interest rate fluctuate between 6.0 and 9.0 % compared with the 24% offered by the traditional pawn shops in México.

With only a couple months in service Prendanet invested seven million pesos for loaning out, they divided their loans on two groups, the first one covers amounts from 15 thousand to 30 thousand pesos and the second group covers amounts from 100 to 150 thousand pesos, also Pando Rodríguez said that 85% of the Prendanet customers were represented by small or medium sized enterprises owners, also Prendanet hopes to increase their invest from seven to 100 million pesos on the next five years.

Another goal is to catch at least 10% of the four million of  SME industries who are established in México, basically Prendanet hopes to attract young men between 21 to 39 years old with entrepreneurial skills.

Another important aspect to promote Prendanet could be the fact that this enterprise was created under an internet surface that spread their use into a digitalized society who can´t stop using their Smartphones or Tablets daily.

Interested customers could ask for any valuation, at the time Prendanet accepts jewelry, vehicles, buildings, electronic devices and even art pieces, the operation its quite quickly (72 hours to 90 minutes) it depends about the kind and amount of the loan operation.

Mexican Business Web

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