Background on the Situation and Relevance
Cancún, QROO. The Quintana Roo State Development Economy Secretariat has presented financing schemes to the Cancun restaurant sector through Nacional Financiera (Nafin).
The recent power outage affecting the entire peninsula has exacerbated the financial struggles of Cancun’s gastronomy industry, which has experienced a significant drop in income during the second half of the year. To address this issue, the government has allocated up to 600 million pesos for soft loans with competitive conditions and an annual interest rate of 14.7%, backed by state government resources.
Key Players and Their Roles
Francisco Villarreal Zapata, president of the Cámara Nacional de la Industria de Restaurantes y Alimentos Condimentados de Quintana Roo (Canirac), attended the meeting with Nafin. He explained that they discussed various financial products and their benefits for the restaurant sector, including credits and other financial instruments, as well as free professionalization courses.
Villarreal Zapata also mentioned that these financing options can help restore equipment damaged by the recent power outage, with industrial refrigerators costing between 40,000 and 50,000 pesos currently.
Impact on the Restaurant Industry
Out of approximately 1,500 Canirac affiliates in Quintana Roo’s north region, around 60 establishments may require these financing options.
Villarreal Zapata clarified that the sector’s challenges are not due to government actions but rather a global phenomenon of decreased purchasing power and reduced tourism arrivals, which severely impacts Cancun—a city heavily reliant on tourism.
Financing Objectives and Current Progress
The primary goal of the Nafin credit is to support the restaurant sector in the final months of the year, enabling them to meet their end-of-year obligations. So far, about 50 businesses have expressed interest in this financing opportunity.
The presentation was led by Paul Carrillo de Cáceres, Secretary of Economic Development in Quintana Roo. During the meeting, Canirac requested the establishment of working groups to manage bureaucratic facilitation and a more favorable economic year in 2026, following the challenging 2025, particularly during the current low season.
Key Questions and Answers
- What is the purpose of the financing presentation? The Quintana Roo State Development Economy Secretariat aims to support the Cancun restaurant sector with up to 600 million pesos in soft loans, enabling them to cope with end-of-year obligations.
- Who attended the meeting with Nafin? Francisco Villarreal Zapata, president of Canirac, attended the meeting with Nafin representatives.
- What financial products were discussed? Various financial products, including credits and other instruments, along with free professionalization courses for the restaurant sector were discussed.
- How many establishments might require financing? Approximately 60 out of 1,500 Canirac affiliates in Quintana Roo’s north region may need these financing options.
- What is the cause of the restaurant sector’s struggles? The challenges faced by the sector are due to a global decrease in purchasing power and reduced tourism arrivals, impacting Cancun significantly.
- What is the current progress of the financing initiative? Around 50 businesses have shown interest in the Nafin credit, which aims to support the restaurant sector in meeting end-of-year obligations.
