Santander will support the recovery of the restaurant sector with loans and other banking products

One of the sectors that was most affected during the first months of the Covid-19 pandemic, was the restaurateur.

Although there is already a recovery that is expected to be greater by the end of the year, Santander Bank Mexico wants to promote this reactivation, for which it has sealed an alliance with the National Chamber of the Restaurant Industry and Seasoned Foods (Canirac), through which more than 15,000 members will be supported with credit and other banking services.

At a press conference, it was explained that the alliance includes the granting of loans to restaurants under preferential conditions, but also point of sale terminals (POS) and other banking products that are expected to impact more than 15,000 associates. Another benefit is that digital procedures will be carried out.

German Gonzalez, president of the Canirac and Ricardo Álvarez, executive director of SMEs of Santander Mexico, agreed that although the situation of the pandemic impacted the sector, currently there are conditions to bet on a recovery, in which a bank support that adjusts to the needs of restaurants and offers comprehensive solutions is essential.

Different options

In this way, through this alliance, Santander will offer preferential conditions to more than 15,000 Canirac associates to access accounts, POS terminals and SME packages that have been specially designed for restaurants.

The options are: Light for those who already operate a restaurant and are looking for a boost to grow; Restaurant for those who are consolidating their business; and Entrepreneur, which opens financial services to those who are just starting out.

But the bank’s offer, it was explained, will have available various products that help restaurant SMEs to integrate all their processes and accounts to facilitate administration and flows; access personalized insurance for restaurants; TPV’s at competitive rates that help to diversify the collection schemes, and various specialized schemes with a simplified and digital procedure.

“We have found a great reception as today shows Santander, which, through tailored banking support, gives restaurants convenient options to advance in the recovery, ”said the president of Canirac.

Meanwhile, the director of Santander He expressed his confidence that Mexican restaurateurs will be a leading sector in the economic recovery, and for this reason an integrated offer has been created to promote it, with customized banking products.

Inflation would impact

The president of the Canirac He stressed that today the sector is already showing a recovery, and in some cases 100%, in addition to the fact that there is no longer a shutdown of the economy due to the pandemic. Therefore, he trusted that the reactivation will be even stronger at the end of the year.

However, he stressed that inflation would have an impact, since restaurants buy from practically all sectors and supply chains continue to be affected.

He said that restaurants have tried to hold prices, but that it is very difficult when a product goes up to 100%.

“The industry has tried not to affect these increases in prices, but when coffee rises 100% and you have to continue buying coffee, sooner or later it will have to affect (…) if it were 5 or 10%, but there are things that they have doubled in the last four or six months, so the environment is complicated, “he said.

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