Monday, April 15, 2024

‘MyPerú Boost: S/900 million allocated in guarantees for the benefit of mypes’

Share

Cofide, the Development Bank of Peru, recently conducted a successful auction of the Impulso Myperú program, allocating S/900 million in guarantees. This initiative aims to continue supporting mype companies and entrepreneurs across the country. With this latest auction, the total amount of guarantees assigned to financial institutions participating in the program now stands at S/8,300 million out of the S/15,000 million available.

The auction implemented a new methodology to promote access to credit for new clients, those who have not borrowed in the last 12 months, and sectors heavily impacted by the crisis such as tourism, construction, agriculture, and fishing.

Notably, 27% of the allocated amounts went to new clients and those who had not accessed credit in the past year, opening up opportunities for more mype businesses to benefit from the program. Fourteen entities, including banks like Interbank, BBVA, and Alfin, as well as financial companies and credit unions, participated in the auction.

The average rate for this auction was 13.97%, significantly lower than the rates typically offered by the Financial System for MSME loans (over 30%). These competitive rates will be passed on to the final beneficiaries, ensuring greater financial accessibility for entrepreneurs.

Since the start of the program, over S/2,557 million has been disbursed to support nearly 112,000 entrepreneurs nationwide. A significant portion of the credits were used for purchasing fixed assets, working capital, or consolidating debts. The disbursements have also been spread across various regions, with Puno, Arequipa, and Piura among the top beneficiaries.

Read more

Local News