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Reactiva Peru: Update regulations to grant up to 36 additional months of grace period

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This morning the Ministry of Economy and Finance (MEF) published the modifications to the Operating Regulations of the Reactiva Peru credit program, in order to provide the conditions to allow these credits to be rescheduled with an additional period of up to 36 months.

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Thus, the entities of the financial system are authorized to establish for a single time, within the framework of reprogramming the credits of Reactiva Peru established in emergency decree No. 011-2022, a new grace period of up to 24 months for companies debtors, additional time to the original grace period.

While, in the case of companies in the tourism sector, they will be given an additional 12 months. That is, they will be able to access a grace period of up to 36 months.

Requirements to reschedule

As the regulation was published today, the rule comes into force from tomorrow. Companies that have a valid guarantee and that are presented by financial entities may benefit from the reprogramming of Reactiva Peru loans, provided they meet the following requirements:

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a) Have loans of up to S/ 90,000 in total, within the framework of Reactiva Peru.

b) In the case of loans from S/ 90,001 to S/ 10 million in total, a drop in the level of sales greater than or equal to 30% must be demonstrated in 2021 compared to 2019.

The rule specifies that it is the responsibility of the financial entities to evaluate and approve the rescheduling carried out within the framework of emergency decree No. 011-2022, as well as to verify that the debtor company that avails itself of the rescheduling of Reactiva Peru’s credits complies with the above requirements.

The mechanisms or means of verification of the falls in the previous sales levels are carried out by the financial entities through the records of the Sunat, and a copy of these records must be kept in the file of the debtor company.

Source: Larepublica

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