In a meeting at the Convention Center this morning, the Secretary of Tourism and Banorte-Ixe Group launched a new 200 million peso financing program with the goal of improving the tourist offerings and experience here in Mazatlán.
The program aims to create incentive for the building of 700 new rooms (a 10% increase over existing hotel space), with the ability to serve an additional 400,000 visitors annually. The program will also extend loans with favorable terms to tourist enterprises and small businesses in the hospitality field.
Loans will be from 500,000 to 9.5 million pesos, on credit without collateral, at interest rates of 11%, to be repaid over three years. Applications must be submitted between September and December 2013.
Oh so happy to see our state investing in our local businesses and families! May this money do a world of good!