The text that dismantles the myth
The myth: "to lend you need to be a SOFOM." The legal text: "The granting of credit, as well as entering into financial leasing or financial factoring, may be carried out habitually and professionally by any person without needing to require authorization from the Federal Government" (LGOAAC, art. 87-B, first paragraph). Lending your own capital is a free activity — with obligations (LFPIORPI, tax), but free. The SOFOM is an optional suit, not a requirement.
What exactly a SOFOM E.N.R. is
A stock corporation (S.A.) whose main corporate purpose is credit, financial leasing and/or factoring, with a current registration before CONDUSEF — without that registration, legally you are not a SOFOM even if the name says so. The denomination carries "SOFOM" followed by "E.R." (regulated entity: with equity ties to a bank or that opted to be regulated — prudential supervision by the CNBV) or "E.N.R." (non-regulated entity: the vast majority). Following the recent reforms, the registration additionally requires a favorable technical opinion on money-laundering prevention (art. 87-B as amended; last amendment in the DOF on Nov 14, 2025).
What you gain with the suit
- Tax: by meeting the portfolio/income requirements, the SOFOM is considered part of the financial system for purposes of the LISR (Income Tax Law) — with benefits such as deducting uncollectible loans under financial-entity rules and, in VAT, access to the interest exemptions of certain business loans (VAT Law, 15-X-b).
- Operational: natural access to bank and development-bank funding, credit-bureau queries as a financial user, an institutional image before corporate clients.
- Commercial: there are counterparties (insurers, funds, public tenders) that only deal with registered entities.
What you pay for the suit
- Its own supervised AML regime: the LFPIORPI as a vulnerable activity stops applying to you and the financial-entity regime kicks in (LGOAAC art. 95 Bis and provisions), with a compliance officer, manuals, reports to the UIF via the CNBV — a serious step up in burden.
- CONDUSEF reports and regulation: registration of fees, adhesion contracts, a user-service unit (UNE), periodic information.
- Permanent administrative cost (compliance, audit, renewals) that is only absorbed with a certain portfolio scale.
The decision, in one practical rule
- Small portfolio, own funding, clients by relationship: operate without a SOFOM — an ordinary legal entity complying with LFPIORPI 17-IV (identification and notices). This is exactly the standard of a private-credit firm with its own capital.
- You seek institutional funding, deduct a relevant past-due portfolio, or your clients/counterparties require it: the SOFOM E.N.R. suit starts to pay for itself.
- What never changes: with or without a SOFOM, you cannot take deposits from the public — the SOFOM lends, it does not receive savings (LIC art. 103).