In order to support the capitalization of micro and small businesses, the Peruvian Federation of Municipal Savings and Credit Banks (Fepcmac) urged the government to implement a Reactiva Peru III with a fund of approximately S/ 15,000 million that would benefit 1, 2 million mypes.
”Mypes are the main engine of the economy and constitute 98.6% of business units. In addition, it generates employment for more than 7 million people, 45% of the PEA, which represents approximately 21% of the national GDP. Despite their importance to the economy, most of them have not received state support. With Reactiva III we want our clients to resume their activities and not break the chain of payments with their suppliers,” said Jorge Solís, president of Fepcmac.
Solís questioned that the Government continues to provide payment facilities to large companies, but it does not “show the same interest or willingness to support the more than 6 million microenterprises that make up the microfinance segment.”
With the promulgation of Emergency Decree No. 011-2022, the Government established extraordinary measures so that companies in the financial system, with their own resources, can reschedule loans guaranteed by the Reactiva Peru program.
“Only in the commercial emporium of Gamarra there are more than 20,000 microentrepreneurs who have problems capitalizing and have not agreed to any state problem, but the government does not help them,” he said.
Regarding the Reactiva III proposal, Solís specified that the Government should subsidize up to 5% of the credits that could be disbursed. “If in Reactiva Peru credits were delivered at rates of 1.5% to large companies, then an effort should be made to support entrepreneurs,” he said.
As of February 2022, with official and available information from the SBS, Reactiva Peru’s placement balance totaled S/ 39,000 million. 30% of the balance registered in November 2020 was canceled (period in which it reached S/ 56,000 million).
According to information from the SBS on the Reactiva Peru program, a greater portfolio reprogramming (in percentage terms) is observed in municipal savings banks and rural savings banks (53% and 57%, in each case); Likewise, their advance payments are also lower (13% and 2%, in each case).
”In order to avoid the culture of non-payment with the consequent deterioration of the portfolio and negative impact on the profitability and solvency of microfinance entities, and considering that the Executive has already promulgated the initiative of Congress, we request that the Operating Regulations (of the decree of urgency) collect the suggestions of the microfinance entities, such as being very focused only on those companies that still do not have a recovery of their activities”, he concluded.