What is SIPRES and Why is it Important for Loan Applications?
Did you know there’s a public and free tool that informs you if a company, institution, or online loan application is regulated? This tool is the System of Registration of Financial Services Providers (SIPRES) by Condusef.
The SIPRES is an official public registry that provides corporate and general information about financial institutions under Condusef’s jurisdiction.
According to the organization itself, if the institution you’re looking for isn’t listed in SIPRES, it either isn’t a financial institution or is not complying with applicable regulations.
“The main issue of applying for a loan from an institution not listed in SIPRES is that, should you encounter problems, the Condusef cannot intervene on your behalf,” states a communication from fintech yotepresto.
How to Consult SIPRES
- Visit https://webapps.condusef.gob.mx/SIPRES/jsp/pub/index.jsp
- Carefully read the notice, then click ‘Close’.
- Click on ‘Search Institutions.’
- Type the company’s commercial name or legal title.
If no results appear after typing the name, it means the institution is not registered with SIPRES.
“It’s important to type the name in various ways, as some institutions may be registered but listed differently. For example, ‘yo te presto’ instead of ‘yotepresto,'” advises the fintech.
What is yotepresto?
Yotepresto is a Mexican fintech offering online loans that is authorized and regulated by Condusef, the National Banking and Securities Commission (CNBV), and Banco de México (Banxico).
Through its peer-to-peer lending model, yotepresto offers personal loans of up to $425,000 with interest rates starting from 8.9%, fixed monthly payments, and loan terms of up to 36 months. The entire process is online and free.
In a decade of operation, yotepresto has disbursed over 5 billion pesos in online loans and boasts more than 4 million registered users, making it the leading Institution of Collective Financing (IFC) in Mexico.
For more information, visit:
- Official website
- TikTok
*Annual fixed interest rate of 8.9% to 38.9%, excluding VAT, subject to credit evaluation and assessment. Example: $400,000 loan with an 18.9% annual rate over 36 months. Total amount to be paid: $537,882.91 excluding VAT. Subject to loan approval. AVERAGE CAT: 26.6% excluding VAT. Calculation date: June 15, 2025. For informational and comparative purposes only.
Key Questions and Answers
- What is SIPRES? It’s a public, official registry provided by Condusef that lists financial institutions under its jurisdiction.
- Why is SIPRES important when applying for a loan? It ensures the lending institution is regulated and compliant with applicable laws. If not listed, Condusef cannot intervene in case of disputes.
- What is yotepresto? It’s a regulated Mexican fintech offering online personal loans with competitive interest rates and flexible terms.
- How can I check if a lending institution is registered with SIPRES? Visit https://webapps.condusef.gob.mx/SIPRES/jsp/pub/index.jsp, search for the institution, and review the results.
