Introduction to Legislative Decree Nº 1399
Legislative Decree No. 1399 is aimed at strengthening the country’s business sector through its relationship with the CRECER Fund. This decree seeks to broaden the scope and benefits of MSMEs, facilitating access to financing and guarantees for them, as well as for exporting companies. D.L. No. 1399 establishes detailed stability criteria for the final beneficiaries, in addition to specifying the financial instruments available and the applicable coverage percentages.
Updates for MSMEs
The Ministry of Economy and Finance (MEF) has updated the Regulations of Legislative Decree No. 1399, which strengthens micro, small and medium-sized enterprises (MSMEs) through the Crecer Fund. These modifications were made official with Supreme Decree Nº 116-2024-EF.
New Requirements for Beneficiaries
MSMEs interested in accessing the Fondo Crecer must meet certain requirements:
- Previous Coverage Eligibility: Beneficiaries must not have received coverage financed by the Fondo Crecer previously. This ensures a more equitable distribution of resources and allows new companies the opportunity to benefit from the fund.
- Transparency and Evaluation: Companies must present clear and verifiable information on their financial and operating situation. This includes audited financial statements and other documents that demonstrate the need and ability to use the funding effectively.
- Regulatory Compliance: MSMEs must be up to date with their tax and legal obligations. This requirement ensures that only companies operating within the legal framework can access the benefits of the fund.
- Risk Assessment: Fondo Crecer will conduct a risk assessment for each applicant. This assessment will consider factors such as financial stability, credit history, and growth capacity. Companies that demonstrate manageable risk and sustainable growth potential will be prioritized.
- Counterpart Contributions: Depending on the type of financing requested, MSMEs may need to provide a counterpart contribution, which may be in the form of equity or additional guarantees. This encourages commitment and responsibility on the part of the beneficiary companies.
Guarantees and Coverage
The maximum value of the guarantees granted by Fondo Crecer is increased to 10 million soles per beneficiary, or its equivalent in foreign currency. These guarantees will cover financing operations and ensure greater economic support to MSMEs. In addition, the trustee will be able to contract technical assistance, advisory or specialized consulting services, financed with up to 1% of the audited financial income of the previous year.
Conclusion
The amendments to the CRECER Fund Regulations represent a significant step forward for the support of Peruvian MSMEs. By providing more equitable and broader access to financial and technical resources, the MEF is fostering a more dynamic and sustainable business environment. These measures not only benefit individual companies, but also contribute to the country’s overall economic growth. The implementation of these changes is a testament to the MEF’s commitment to inclusive development and the continuous improvement of the business environment in Peru.
Source: Decreto Supremo