Congress proposes to create the Reactiva Mype program

Congressman Alejandro Soto Reyes, from the bench Alliance for Progress, proposes to create the Reactiva Mypes program for two years for micro and small businesses as well as natural persons with the aim of reactivating the national economy. Through extraordinary and urgent measures, it seeks to rescue properties from foreclosures and judicial auctions as a result of the negative impact of the COVID-19 pandemic.

PL 4313 indicates that natural persons and mypes with debts that have granted real or personal guarantees (mortgage, commercial or personal loans, real estate leasing loans, among others), but that as of December 31, 2022 qualify in the Superintendency of Banking and Insurance (SBS) with normal risk or imminent problem may request the rescheduling of their debts.

In addition, they may request an additional amount of money to reactivate their activity for up to 10% of the value of the debt. The maximum amount for redemption of imminent risk of execution of guarantees, and reactivation of its activity, is up to S/ 700,000.

However, it is detailed that only those who have had 4 consecutive or alternate late installments, as of January 2023, or are in a civil process for the execution of guarantees, will be eligible for the program. The terms of the credits may be for up to five additional years to the term of the schedule initially granted by the companies of the financial system.

While the interest rate offered should reflect the full costs of the program, each rescheduling should not have a rate greater than 1.4% + 100 basis pointsindicates the legislative proposal.

The proposal was presented on February 21 and two days later it entered the Economy Commission of the Congress of the republic for evaluation before going to plenary for debate and voting.