Factoring operations will exceed S / 22,000 million at the end of 2021

The Ministry of Production (Produce) reported that, at the end of 2021, the amount negotiated in factoring operations will amount to S / 22,000 million, a figure that would imply an increase of 68% higher than that registered during 2020, in favor of 11,519 micro and small companies (mype).

The Minister of Production, Jorge Luis Prado Palomino, commented that from January to November a total of 816,416 invoices were negotiated for more than S / 19,792 million, benefiting 13,736 companies in the country, of which 84% is mype. Likewise, the average amount of the negotiated invoices amounted to S / 24,242.

“The instrument is preferred by small suppliers, which can negotiate their invoices successfully despite the pandemic, which has hit our entrepreneurs so hard,” said Prado Palomino.

Along these lines, the main sectors that make use of the instrument are: commerce, which negotiated 327,208 invoices for a value of S / 5,754 million; services, which negotiated 166,484 invoices for a value of S / 5,530 million; and manufacturing, which negotiated 283,274 invoices for a value of S / 5,478 million.

“The results observed are auspicious, highlighting the notable growth of both the amounts negotiated and the number of invoices negotiated, evidencing the importance of this mechanism as a source of short-term and timely financing for the mype,” said the head of Produce.

It was also known that, in order to promote the use and show the benefits of this mechanism within the country, Produce continues with informative talks in the 25 regions of the country, reaching more than 2,380 mype companies to date.

“The factoring market continues to grow steadily and competitively, with a diversified offer that includes banks, supervised entities and 60 specialized factoring companies,” the institution remarked.