Cofide Resumes Impulso MyPerú Program with Record Allocation of S/ 800 Million in Guarantee Auction

Cofide, the Development Bank of Peru, resumed the guarantee auctions of the Impulso Myperú program and managed to allocate S/ 800 million, the highest amount awarded in the program.

This auction is also the first to be deployed under a new methodology that favors financial inclusion and support for affected sectors: 42% of the amount auctioned will be directed to new or unexperienced clients and at least 12% to sectors especially affected by the crisis.

With this operation, more than S/5.3 billion in guarantees have been assigned to entities of the financial system and savings and credit cooperatives participating in the program, after 13 auctions.

The recent auction resulted in a weighted average interest rate of 13.81%, similar to that of the previous award (13.79%), and introduced a new model for the allocation of program guarantees that rewards participating financial entities that promote inclusion of beneficiaries who have not had loans in the last 12 months, or who never accessed loans in the financial system.

The resulting rate is below the 30% offered by the financial system for loans to MSMEs in general.

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Which financial entities participated in the largest Impulso MyPerú auction?

12 financial entities participated in the auction: the banks BCP, Interbank and BBVA; Proempresa financial; the boxes of Paita, Del Santa, Arequipa and Maynas; the rural box of Del Centro; the savings and credit cooperatives Los Andes Cotarusi and Abaco, and the edpyme Total Servicios Financieros.

The Impulso Myperú program, administered by Cofide on behalf of the Ministry of Economy and Finance (MEF) and the Ministry of Production (Produce), will continue to provide financial support to thousands of entrepreneurs this year and facilitate their access to credits for working capital. fixed assets or debt consolidation through the entities of the financial system.

According to MEF estimates, the program will benefit more than 334,000 companies nationwide, with the objective of ensuring their financial stability and contributing to the strengthening of the country’s business fabric.

As of January 19, this program has allowed the disbursement of credits for S/2,425 million for the benefit of nearly 107,000 mypes. 35% of these beneficiaries accessed credit to purchase fixed assets, 33% for working capital, while 32% used it to consolidate their debts. Of the amount disbursed, 24.3% corresponds to Lima and 75.7% to other regions led by Puno (11.5%), Ayacucho (8.82%) and Piura (7.04%).

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Businesses dedicated to tourism have financing facilities.

What is the guarantee of Impulso MyPerú credits?

To achieve its objective, the program increased the fund to S/15,000 million and the acceptance period was extended until June 30, 2024.

The most notable improvements to the program are the expansion of benefits to incorporate, in addition to MSEs, other types of companies, in addition to promoting credits that imply financial inclusion and that are aimed at economic sectors impacted by the crisis, such as tourism, agriculture, construction and fishing.

Interested parties can access credits backed by state guarantees at 90% and 98%, according to the amounts requested.

The credit payment term can be extended up to five years, with a grace period of up to 12 months, and for some sectors such as tourism, there are terms of up to six years and with a grace period of up to 24 months, during which The company only pays the interest, which will provide it with greater liquidity.

In addition, the scheme has a good payer premium, which will cover the last two installments of the loan or the equivalent of 15% of it, thereby further reducing the effective rate of the loans.

READ ALSO: Companies take “bridge loans” to face high interest rates this year

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2024-01-25 03:00:00
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