The Ministry of Economy and Finance (MEF) and the Development Finance Corporation (Cofide), as administrator of the Reactiva Peru program, specified that the maximum interest rate for Reactiva Peru credit rescheduling is half of what mypes pay.
In a joint statement, they indicated that for those beneficiary companies that have not yet recovered the normal rhythm of their activities, the companies of the financial system (ESF) were empowered to reschedule, with their own resources, the credits guaranteed with the program.
They reported that micro and small companies (mype), as well as larger companies with falls in the level of sales greater than or equal to 30% in 2021 compared to 2019, were authorized to request the ESF that granted them the credit the rescheduling of the same.
Meanwhile, the ESFs are in charge of evaluating and approving the rescheduling, determining the interest rate for each credit, and verifying that the beneficiary company of the program meets the necessary requirements to access the rescheduling scheme.
“The rescheduling scheme considers a limit to the interest rate based on the maximum rates obtained in the auctions of programs with guarantees from the National Government oriented to Mypes (as is the case of PAE MYPE, FAE AGRO, FAE Tourism) , being so that the reprogramming rate is up to 17%, and may be less than this “they limited
In this sense, they emphasized that the average rates for mypes in the financial system under market conditions before the pandemic were around 35% to 45% per year for operations in national currency.
These levels are currently maintained, amid strong upward pressure both in the international credit markets and at the local level as a result of a global inflationary context and international conflicts, for which the maximum level established for rescheduling turns out to be less than half of the prevailing rates.
Finally, they detailed that to date, no rescheduling has yet been carried out and that the MEF, Cofide and the ESF are completing the operational implementation required to proceed with the new rescheduling of Reactiva Peru loans.
