Expansion of Reactiva Peru: until when can the credits be rescheduled?

He Executive power published this Thursday, June 29, the Emergency Decree 023-2023, in which the extension for three more months of the validity of the reprogramming of Reactiva Peru is made official. This measure will provide payment relief to companies beneficiaries of this program, including mypes, to pay their current loans in the midst of a contracted economy.

Let us remember that DU 026-2022 established the maximum acceptance period for rescheduling until June 30 of this year; however, with the measure dictated by the Government, the period will be extended until September 30, 2023.

According to MEFthe measures respond to the need to revive the economy and ensure that financing for mypes is not interrupted due to factors that affect productive activity, such as the risk of heavy rainfall due to the El Niño phenomenon, the slowdown in demand and the high financial cost due to continuous inflationary pressures.

Impulso Myperú budget increases: who can access these credits?

With the objective that more micro and small companies benefit from access to credits in better financial conditions, the Government also expanded an additional S/1,000 million the maximum amount authorized for the granting of the national government guarantee in the Impulso Empresaria Mype program (Impulso Myperú). This measure will allow around 70,000 micro mypes access loans and that the universe of beneficiary companies increases to 210,000.

With this increase in the budget, the program will have a total of up to S/3,000 million to grant guarantees focused on loans aimed at financing working capital, acquisition of fixed assets, and debt consolidation for micro and small businesses.

Below Market Rates

Let us remember that for this program there have been five auctions in which close to S/1,600 million have been assigned in guarantees from the national government at an average interest rate of 12.67%, well below the business rates in the financial market: 38.5% for microenterprises and 23% for small businesses.

The program is aimed at mypes from all productive sectors that have a “Normal” or “With Potential Problems” credit rating. In the case of those companies without a history or credit rating, they will be evaluated by financial institutions or the Savings and Credit Cooperative (Coopac). The placement period is until December 31, 2023.