The Ministry of Foreign Trade and Tourism (Mincetur) reported today that, as of this week, five financial entities are authorized to grant micro and small businesses (mypes) in the tourism sector 50 million soles in credits, thanks to the FAE-Tourism .
This was possible after the first FAE-Tourism auction of the year was held the day before, organized by Cofide.
The winning entities of the contest were the boxes of Cusco, Arequipa and Tacna; as well as the savings and credit cooperatives (Coopac) Kori and Pacífico.
The Business Support Fund for MSEs in the Tourism Sector (FAE-Tourism) is an important financial support fund created by the Peruvian Government.
It grants credits for up to 750,000 soles to be paid in a term of up to five years, and offers an 18-month grace period.
Companies that provide lodging services, interprovincial passenger land transportation, tourist transportation, travel and tourism agencies, restaurants, recreational activities, production and marketing of handicrafts, among others, can access the credits with the FAE-Tourism guarantee.
The mypes that wish to access these guaranteed credits must have a rating in the “normal” or “with potential problems (CPP)” category in the SBS risk center as of February 29, 2020; or otherwise be classified as “normal” in the 12 months prior to applying for the loan.
It should be noted that, to date, those companies that have received resources from the Reactiva Peru Program and FAE-Mype may also access.
It is important to remember that only until June 30 the tourist mypes can access the guaranteed credits, granted within the framework of the FAE-Tourism.
FAE-Tourism is a State initiative and has a fund of 200 million soles. Its objective is to promote the financing of micro and small companies in the tourism sector that were affected by the covid-19 pandemic, through loans for working capital.
It should be noted that the amount assigned in the auction (50 million soles), held yesterday, is greater than the amount assigned in the three auctions held in 2020.
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