The Development Bank of Peru (Cofide) held the seventh auction since the entry into force of the Business Support Program for Mypes (Pae – Mype), managing to allocate S/23.79 million in guarantees at a weighted average Annual Effective Cost Rate (TCEA) of 15.07%.
They reported that this program allows them to access loans for working capital and/or fixed assets for up to S/60,000, with terms of up to 36 months and grace periods of up to 12 months.
They also indicated that to date more than S/308 million in guarantees, with coverage per beneficiary between 90% and 98%, at very competitive rates that will be transferred directly to the beneficiaries of this program,
They also reported that the approved guaranteed loans by the ESF or COOPAC that have a guarantee may not finance the following: distribution of dividends, purchase of shares or participations in companies, bonds and other monetary assets.
In addition, the companies that benefit, may not allocate the loan resources to make capital contributions or investments, except those of very short term, destined to the profitability of cash surpluses.
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