UPS to start providing financial services in Mexico

United Parcel Service (UPS), the largest parcel delivery company in the world, will start supplying financial services for medium-sized Mexican companies through First International Bank (FIB), a company of UPS Capital. First International Bank will supply financial services, such as loans with government guarantees, financing for equipment, capital job loans and financing of imports and exports. Jorge Navarro, representative of the First International Bank (FIB), said the bank would give “added value to clients, who now have the chance of receiving logistical support for products being imported or exported, as well as loans.” In this segment, Mexico has a potential of between 12,000 and 15,000 medium-sized companies to which the FIB can grant loans from US$150,000 to US$7 million.