Impulso Myperú: tenth auction manages to allocate S/600 million in guarantees

The Development Bank of Peru (Cofide) held the tenth auction of the program for business reactivation Myperú Impulse, in which it allocated S/600 million in guarantees, with which there are already close to S/3,600 million assigned to the entities of the financial system (ESF) and savings and credit cooperatives (Coopac) participants, for the benefit of thousands of micro, small and medium-sized businesses (MSMEs).

“This auction has been one of the most successful so far in the program due to the high level of demand, the final amount awarded and the lowest rate after the first auction,” Cofide stressed in a press release.

In addition, he highlighted that in this edition he obtained a demand of S/1,160 million (almost 3 times the initial amount), so the auctioned sum had to be increased from S/400 to S/600 million.

Likewise, it indicated that 11 entities obtained amounts as guarantee: the banks BCP, Mibanco and Alfin; the financial companies Compartamos and Confianza; the CMAC Huancayo and Arequipa; the CMCP Lima; CRAC Los Andes; and Coopac Abaco and Los Andes Cotarusi.

“The great demand and participation made it possible to obtain an average Annual Effective Cost Rate (ACER) of 12.15%, which is lower than the average of the first 9 auctions. This 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%. As is known, 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,” Cofide mentioned.

The bank highlighted that to date, of the total disbursements made by the ESF and Coopac participating in the program (S/1,370 million), more than 76% have been made outside Lima. In this sense, among the main favored regions are Puno (16.14%), Arequipa (9.18%), Piura (6.86%) and Cusco (6.49%).

On the other hand, these credits have been allocated for debt consolidation (37.21%), working capital (32.80%) and purchase of fixed assets (29.99%); which highlights the impact that the program has been generating on the economic reactivation of MSMEs.

What are the benefits?

Impulso Myperú, managed by Cofide – commissioned by the MEF and the Ministry of Production (Produce) – has funds for a total of S/5,000 million thanks to an expansion that took place a few days ago and the loans guaranteed by This program can be granted until March 31, 2024.

Likewise, it has a good payer premium that will cover the last 2 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 7 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 select or not, the beneficiaries; With which they prepare their eligible portfolio with the lists of beneficiaries and send it to Cofide.

In that sense, Cofide as administrator of the program has the function of validating whether the eligible portfolios sent by the ESF and Coopac comply with what the standard indicates and, if so, returns them validated so that they can grant the credit.

Cofide does not intervene in the portfolio selection or credit evaluation processes of the beneficiary MSMEs, since the responsibility for these activities falls exclusively on the ESF and Coopac.

In this way, Cofide ratifies its role as a financial institution specialized in executing the economic reactivation policies established by the Government and focuses its efforts in favor of MSEs, which in turn play a leading role in the entrepreneurial fabric of Peru.