In 2024, access to credit for micro and small businesses (mypes) In Peru, it remains a crucial issue, especially given the economic challenges the country has faced in recent years.
According to the study of the IPE (Peruvian Institute of Economics), by mid-2023, 8% of urban households nationwide reported having received an informal loan in the last year; even in the eastern part of the country, one in five households had acquired a loan from a moneylender or pawnshop in the last 12 months.
Informal loans are usually used to pay off debts, invest in businesses and cover basic needs. It is usually a common practice among merchants and entrepreneurs without a credit history or those with a negative credit report. Infocorp.
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“We believe in the power of entrepreneurship to drive economic growth and innovation”said Juan Diego Cañamero, manager of Prestaclub. In Peru, the financial inclusion is growing, and more and more institutions are offering accessible financial products, providing a lifeline to entrepreneurs who have traditionally been overlooked by conventional financial institutions.
That is why the expert provides two of the most convenient alternatives to access loans without having credit history:
- Mortgage-secured loans:
Entrepreneurs can choose loans for amounts between S/ 10,000 and S/ 1 million, backed by a mortgage guarantee, to finance their businesses or have working capital.
The guarantee may be a house, apartment, land or a commercial premises located in Lima or Callao that is registered in the Public Registry.
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- Jewelry-secured loans:
It is an easy and immediate way to access a creditin which you only need to have a valid ID and 18K, 21K and 24K gold jewelry.
Juan Diego also stresses that this type of credit always goes hand in hand with legal and financial advice, ensuring that entrepreneurs have the support and guidance they need to make informed financial decisions.
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