As part of United Planthe Executive Branch expanded the state guarantee fund for loans granted to companies through the Impulso Myperú program.
The Ministry of Economy and Finance (MEF) has indicated that the objective is that companies continue with their economic recovery processalso promoting financial inclusion and promoting a culture of timely payment.
What are the changes?
Since the program was created Myperú Impulse In 2022 it has had different modifications, especially to expand its financing. This has not been the exception, state guarantees have gone from S/10,000 million to S/15,000 million.
In addition, its reach has been extended to all companies in all productive sectors in the country. It is estimated that the number of beneficiaries will increase by 87,374 companies, with which it is expected that this program will reach a total of 334,114 companies.
Two new guarantee limits are also established based on the amount of the credit granted. From S/1 million to S/5 million with coverage of 60% of the portfolio per debtor. And from S/5 million to S/10 million with a coverage of 50% of the portfolio.
Another important measure is the extension of the grace period and payment periods of up to 12 additional months for the sectors most affected by the different shocks: tourism, agriculture, construction and fishing.
These sectors may have up to 24 months of grace and a payment term of up to 72 months. The validity and period of acceptance of the credit program were also extended until June 30, 2024.
Criticism from the mypes
Although Impulso Myperú was created—as its name suggests—to help micro and small businesses (mypes) to be reactivated, they have been constantly claiming that the majority have not been benefited.
Susana Saldaña, president of the Gamarra Perú Business Association, recently expressed her concern before a congressional committee that the program would be extended to other companies.
“Medium and large companies have already received support (…), almost S/60,000 million were allocated with Reactiva Perú. They also told us the story that it was going to be for mypes, but not even 5% of Gamarra businessmen accessed Reactiva,” the businesswoman highlighted.
He added that the regulations must be modified so that at least 85% of the funds are focused on new loans and that 99% of the financing goes to mypes, based on their representativeness in the country.
Finally, tax lawyer Rafael Inurritegui points out that the negative perception of the program by mypes is the result of the lack of information, “and if they receive it, it generally does not apply, since the institutions that auction with Cofide restrict the resources for their preferred customers.
Impulso Myperú has already allocated more than S/4.5 billion
Cofidethe Development Bank of Peru, reported that, after 12 auctions carried out as part of Impulso Myperú, it has managed to assign more than S/4,500 million in guarantees to the entities of the financial system (ESF) and savings and credit cooperatives (Coopac ) participants.
In the most recent auction, S/357.5 million in guarantees were allocated and 10 financial entities participated.
The average rate of all Impulso Myperú auctions is 13%, while in the financial system it exceeds 30%.
As of November 24, The program has reached 82,797 mype beneficiariesof which 65% are microentrepreneurs and 35% small entrepreneurs, as detailed by Cofide.
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