Mexico City.- Of the total balance of business credit granted in Mexico, only 24 percent remains in the hands of women and the rest is distributed among men, according to the Bank of Mexico (Banxico).
The amount of credit granted to them is 882 thousand pesos, compared to 1,111,000 pesos for men, according to the organization in the document ‘Gender gap in credit: does it increase or decrease with uncertainty?’.
“In this portfolio, there is a lower representation of women in the group of accredited. While women entrepreneurs represent only 30.6 percent of the total accredited companies, men represent 69.4 percent,” it was detailed.
Furthermore, on average, the loans granted to women have a significantly smaller amount and a higher rate than the loans granted to men.
Banxico explained that gender gaps refer to the disparities that exist between women and men in different areas.
“Recent studies indicate that, as in the labor market, gender gaps also exist in the credit market. In addition, there is evidence that women have less access to credit, suggesting that they may face more demanding criteria for access financing and that those who do access the credit market have a less risky credit profile,” it was explained.
However, despite the fact that they have lower default rates under similar financing conditions, they usually face higher loan costs and obtain lower credit amounts.
“That is, women could have less access to credit and obtain less favorable financing conditions than those that would correspond to their credit risk. This is relevant, since, if this is the case, greater incorporation of women into credit could improve inclusion and, at the same time, reduce non-compliance,” it was warned.
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