Cofide, the Development Bank of Peru, carried out the ninth auction of the Impulso Myperú business reactivation program, in which it assigned S/250 million in guarantees, With which there are already approximately S/3,000 million attributed to the entities of the financial system (ESF) and savings and credit cooperatives (Coopac).for the benefit of thousands of micro, small and medium-sized businesses (MSMEs).
On this occasion, the auction obtained a demand of S/320 million, so the amount auctioned had to be increased from S/150 to S/250 million. There was participation from 13 entities, 12 of them microfinance: BCP; the CMAC Huancayo, Arequipa, Maynas, Trujillo, Paita, Del Santa and Piura; CRAC Los Andes; the financial companies Confianza and Qapaq; Coopac Los Andes Cotarusi; and the Alternative Credit Company.
The great demand and participation made it possible to obtain an average Annual Effective Cost Rate (AECR) of 13.73%, which means that MSMEs will obtain very competitive rates, located well below the average credit rate for microenterprises in the financial system, which in the first semester has been greater than 30%.
The TCEA proposed by each participating financial institution will be transferred to the final beneficiaries, which will represent savings for MSMEs and a boost to their strengthening.
To date, of the total disbursements made by the ESF and Coopac participating in the program (S/960 million), almost 80% have been allocated outside of Lima, with the main regions being favored. Puno (20.37%), Arequipa (8.77%), Cusco (6.68%) and Piura (6.56%).
Likewise, these loans have been allocated for debt consolidation (37.95%), mainly for working capital (34.52%) and for the purchase of fixed assets (27.53%).
Benefits of Impulso Myperú
This program, administered by Cofide on behalf of the MEF and the Ministry of Production (Produce), has funds for a total of S/5,000 million. Guaranteed credits may be granted until March 31, 2024.
Likewise, it has a good payer premium that will cover the last two installments of the loan or the equivalent of 15% of it. This benefit could represent savings for MSMEs equivalent to a rate reduction of up to seven percentage points.
How to access Impulso Myperú?
To access the program, MSMEs must request loans from the entities of the financial system (ESF) and participating savings and credit cooperatives (Coopac).
The ESF and Coopac are the ones that evaluate and choose the beneficiaries, With which they prepare their portfolio with the lists of beneficiaries and send it to Cofide.
Cofide, as administrator of Impulso Myperú, has the function of validating whether the eligible portfolios sent by the ESF and Coopac comply with what the program regulations indicate. If so, the validated portfolio is returned so that the ESF and Coopac can grant the credit.
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