For example, IMOFI in Morelos runs a business credit programme which covers the full range of loan size as Capital Semilla (i.e. from MXN 70 000 to MXN 1 million) but offers an interest rate of 7.5% on on-time repayments. Credito PYME by SOFEQ in Queretaro lowers this rate even to 6% for loans of MXN 700 000 averagely. In addition to the budget constraints of the programme, this could explain the relatively low number of incubated firms that apply for the seed capital programme (12% in 2010) and points towards an alignment of interest rates so that similar public programmes offer similar conditions, avoiding to compete against each other.