Myperú Impulse: credits will be given until June 2024

Within the maneuvers of the Executive Branch to mitigate the impacts of the recession, the expansion of the Impulso state-guaranteed credit program was established. Myperu to S/15,000 million for its fund.

In detail, the universe of beneficiaries is expanding, now reaching 334,114 companies. How does it work? Those interested can access a credit of up to S/30,000 with 98% state coverage and also S/30,001 to S/90,000 with a 90% guarantee.

Furthermore, with the recent extension business They can receive between S/1 million and S/5 million with a coverage of 60% of the portfolio per debtor and from more than S/5 million to S/10 million with a coverage of 50% of the portfolio per debtor.

The grace and payment periods were also extended to twelve months for items such as tourism, agriculture, construction and fishing, which will have a 24-month grace period. Interested businesses may request this credit until June 30, 2024.

Alex Contreras, head of the Ministry of Economy and Finance (MEF), points out that with Impulso Myperú “the aim is to secure the payment chain in order not to affect the economy in the short term”, considering that mypes cover more than 90% of the business fabric and are dynamic in employment.

Until the closing of this note, the program granted state guarantees for loans to around 82,775 micro, small and medium-sized companies, which accessed a total financing of S/1,875 million. These credits may be granted by the financial entities that participate in Impulso Myperúwhich is administered by the Development Financial Corporation (Cofide).

A very limited change

Daniel Hermoza, president of Mypes Unidas del Perú, points out that the fund of S/15,000 million plays a mere role of makeup artist since, in practice, the mypes are operating at a loss, as a result of the recession.

“Hopefully they will boost consumption, but there is a slow recovery despite the injection of money. They are loans that lengthen the cooling process of a company, not so much a recovery. They give us a little oxygen to continue moving forward,” he commented.

Along these lines, he regretted that there is no handle to deal with the evils, such as the political tension that slows down investment and business expectations, since “no indicator linked to mypes shows good results.”

It should be added that this year the economy is expected to close at its weakest variation in two decades – not counting the pandemic – and, in the latest data from the INEI, GDP in year-on-year terms stagnated at 0% and in the accumulated from January to September, it fell by 0.63%.

Manufacturing, for example, fell 7.10% and has seen a contraction of 5.81% since last year. Other sectors such as fishing, construction and agriculture are also in red.

Entities where you can apply for the Myperú Impulse

In the last auction organized by Cofide S/357.5 million in guarantees were assigned and had the participation of 10 financial entities: Mibanco; the financial companies Qapaq and Efectiva; the CMAC Huancayo, Maynas, Ica, Arequipa, Trujillo and Piura; and the Alternative Credit Company.

The MEF has already highlighted the benefits of this program regarding rates, which have an average of 13% “well below those offered by the financial system”, which is more than 30%.

Companies must request credits from the financial entities and participating savings and credit cooperatives, which evaluate and choose the beneficiaries. Thus, your eligible portfolio is sent to Cofide.

The word

Daniel Hermoza, president of Mypes Unidas

“Of these S/15,000 million to boost consumption, there will be little recovery. They are loans that prolong the cooling of a company, not so much a recovery. “It’s a little oxygen.”

Figures

• Tourism, agricultural, construction and fishing companies have a 24-month grace period.
• 82,000 mypes have received Impulso credits.
• 334,000 companies will be able to use this capital when the program is expanded.