Over 480,000 firms have accessed Reactiva Peru loans, 98% were MSEs

12:32 | Lima, Oct. 22.

As of October 14, more than 480,000 businesses from all economic sectors received loans within the framework of Reactiva Peru Program, the Central Reserve Bank (BCR) has reported.

It is worth highlighting that 98% of these businesses are micro and small enterprises, which have benefited from historically low interest rates.

With additional S/30 billion (about US$8.33 billion), the second stage of the program seeks to provide liquidity at low rates to companies of all sizes, especially favoring loans to micro and small businesses.

Funds for a total of S/85.76 billion (about US$23.82 billion) in government-backed repos have been offered in this second stage (from June 30 to October 15), with S/25.26 billion (about US$7.01 billion) at an average interest rate of 1.73% having been placed for clients of financial entities.

On August 31, the BCR affirmed that —without Reactiva Peru Program— monthly loans to all types of businesses would have fallen by as much as 1.3% in July, compared to the previous month.

As is known,

Reactiva Peru enables the economic system to remain operational by preventing the payment chain from breaking, in the face of the global coronavirus (COVID-19) pandemic.

(END) NDP/MVB

Published: 10/22/2020

Over 480,000 firms have accessed Reactiva Peru loans, 98% were MSEs

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