Good news for mypes. The Banco de la Nación was authorized by the Ministry of Economy and Finance (MEF) to, using its own resources, grant financing lines for companies in the financial system (ESF) specialized in microfinance -such as municipal banks, rural and financial banks -, with the reason that they allocate these resources only to give loans to small and small entrepreneurs (mypes) for reasons building, improving, extending or remodeling houses.
Supreme Decree No. 217-2024-EF, published this Sunday, November 10, confirms the offer made by the Peruvian Government to microfinance institutions in the middle of this year. It is worth saying that these ESFs are the ones that serve the base of the pyramid, unlike commercial banks, which usually offer harder mortgage loans to clients with a mype risk level.
The line of guarantees provided by the Peruvian Government to set mortgage loans for mypes amounts to S / 700 million. This funding by the Banco de la Nación is much lower than the S / 4.5 billion provided by Minister José Arista, and even lower than the S / 2,000 million proposed by the Peruvian Federation of Municipal Savings and Credit Banks (FEPCMAC).
The risk profile will be defined by the Banco de la Nación. Microfinance institutions must demonstrate that their clients comply with the conditions set by this entity and then request approval from the Superintendent of Banking, Insurance and AFP (SBS), in order to obtain the highest effective equity requirement. let them. financial mortgage loans regarding more than 4 years and up to 5 years.
“The amount of the subloan that counts as effective equity, if requested by the ESF, must compensate only for the greater capital requirement associated with providing financing for terms longer than 4 years and up to 5 years,” the document says.
In addition, the Banco de la Nación is responsible for approving the conditions and commitments necessary from microfinance institutions and credit debtors of these institutions, according to the line of financing that it give
Jorge Solís, president of FEPCMAC, At the SUMMIC – El Salvador 2024 event, the importance of long-term mortgage loans for self-employed workers in Peru was highlighted.
These loans with interest rates between 6% and 7%, are defined for Information about Perudesigned to be paid off over 10 to 20 years, which aims to facilitate access to housing for a segment that cannot access traditional banking.
However, the MEF’s recent decision to provide guarantees only to the Banco de la Nación for S / 700 million generates uncertainty about the viability of these loans.
Before this step by the MEF, the Municipal Funds were preparing to launch mortgage loans of up to S / 150,000, aimed at independent and informal workers, who often have problems in receive financing due to the lack of formal documentation of their properties.
According to the lawyer Jorge Solís, 50% of mortgage loans in Peru are given by banks, which do not have affordable rates for this part of the market.
Self-construction in Peru represents a real phenomenon in the field of housingaffecting a large part of the population.
It is estimated that 90% of the homes in categories C, D and E are self-builtwhich means that most Peruvian families face challenges related to informality and insecurity in their homes.
This type of construction, which is carried out without the intervention of professionals in the sector, is a response to the need for affordable housing, but there are also structural and legal risks.
The economic impact of self-construction is special, moving around S / 25,000 million per year, which is equivalent to 4.1% of the country’s Gross Domestic Product (GDP).
This sector, although informal, is an important part of the Peruvian economy, reflecting both the demand for housing and the limits of the formal market to satisfy it.
2024-11-10 12:54:00
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