The purpose of this article is to determine the dimensions of the dynamic learning capacity, then to identify the exogenous and endogenous contingency factors that affect the dynamic learning capacity of SMEs in Ocaña. A quantitative and descriptive approach was used in order to identify the existing elements for the study situation. The questionnaire instrument was applied under the Likert structure with 5 levels of response to 310 SMEs of the municipality. It was possible to identify that the dynamic learning capacity in more than 40% of the municipality's SMEs is moderately good. In Ocaña's SMEs, the dynamic organizational learning capacity is in the recognition and valuation stage, and more than 50% agree on building processes for knowledge generation capacity. Companies should focus their strategic planning on sharing knowledge through methodologies and pedagogies that guarantee the appropriation of organizational learning models according to their needs. The article deepens the dimensions of dynamic learning capacity in the SMEs of Ocaña, at the same time, it assesses the exogenous and endogenous factors inherent to the dynamic learning process.