In order to support micro and small businesses (mypes), the Ministry of Production (Produce) proposed to extend the FAE-Texco program until March 2023, because its term expires on December 31 of this year and it only has a 6.9% advance.
The head of Produce, Eduardo Mora, presented today in the Congress of the Republic the bill 3554/2022-PE, which promotes the economic reactivation of micro, small and medium-sized companies through the Mipyme Entrepreneur Fund.
During his presentation, the minister also considered adjusting the concept of FAE-Texco beneficiaries, in order to include the businesses of entrepreneurs in the textile and clothing sector as beneficiaries of the fund. This, considering that close to 80% is informal and that the microfinances have the informal sector as their main audience, and constitutes an opportunity to complement a financial fund with Produce programs.
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On the other hand, the repealing complementary provision eliminates the cap on interest that occurs in FAE-Texco auctions, due to the fact that the reference rate of the Central Reserve Bank (BCR) has been rising in recent months and the limits above are no longer applicable.
In addition, Mora proposed the approval of new resources for S/ 150 million to the fund, which will be used as non-financial instruments to support MSMEs (co-financing) on issues of technology adoption, capacity building, acquisition of fixed assets, among others, through programs such as Startup Peru, Internationalization Support Program, Cluster Support Program, among others.
Fund and alliances
The project also plans to adjust the concept of beneficiaries of the Crecer Fund (change to the SBS definition of indebtedness), in order to include informal businesses as beneficiaries of the fund, due to the problems identified in other funds and the need to attend to companies in the most vulnerable situation.
Finally, the transfer of S/ 1.5 million from Produce to the Fondemi trust (administered by Cofide) would be approved, in order to use the resources for the implementation of the “Financial Alliances” program, which will allow financial inclusion and access to self-financing credit. to the mype without credit qualification or bad qualification, coming from markets of supplies, guilds mype and commercial conglomerates.
