Although Mexico only introduced a social distancing policy on March 28, experts are forecasting that the economy will be hard-hit by the global pandemic. However, lenders are working to offer clients alternatives. For example, an unidentified lender has opened the option for borrowers to halt payments on their loan for 30 days without penalty. Another Mexican fintech that has launched a user-friendly strategy is Bien para Bien. Víctor Manuel Borrás, CEO, says they have fast-tracked a new product that was already in development, as a result of the new environment. “It allows people to earn money from home, giving them the opportunity to sell Bien para Bien loans,” he said. Currently, the company has more than 2,000 promoters. That figure beat the company’s own forecasts, and it now expects to reach its goal of having 10,000 promoters within 6 weeks.

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