A favorable macroeconomic environment, coupled with controlled inflation and signs of recovery in formal employment, is boosting optimism among microentrepreneurs, according to Jeffrey Martínez, Compartamos Banco’s Senior Manager of Commercial Model.
Martínez added that consumer spending is showing signs of reactivation, which strengthens sales expectations and, the demand for microloans. This positive trend comes as Peru’s central bank reported a 5.8% annual growth in credit to micro and small businesses at the close of 2025, a significant increase from the 0.2% recorded in 2024.
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The bank, focused on microfinance, anticipates double-digit growth in loan disbursements in the coming months, supported by increased demand and improved risk indicators. The seasonal demand for capital to stock businesses related to the start of the school year, along with improved payment behavior observed throughout 2025, has also allowed banks to expand their risk appetite and serve a larger number of clients.
Ventas
The commerce, services, and industry sectors are the most active in this campaign, Martínez indicated. Specifically, sales of school supplies are prominent in the commerce sector, while educational institutions requiring working capital and resources to strengthen their infrastructure are driving activity in services. The manufacturing industry is seeing increased activity in the production of footwear, backpacks, and school uniforms.
According to projections from the Small Business Association of the Lima Chamber of Commerce, sales during the campaign could grow between 5% and 10%, reaching figures of up to S/ 1,300 million. “This highly seasonal production ecosystem finds microcredit to be an significant tool for responding to increased consumer demand,” Martínez noted.
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Elecciones
Despite the uncertainty still present in the political landscape, the electoral context is not significantly affecting credit dynamics, according to the bank’s senior manager. While election processes traditionally introduce caution in investment, activity in the microfinance segment has maintained its usual pace so far.
Compartamos anticipates stable credit growth for the first half of the year, in line with what was observed in 2025, even amidst a wave of crime affecting many business owners. The executive emphasized the importance of seeking timely capital and avoiding over-indebtedness, noting that the back-to-school season represents up to 20% of annual sales for small and medium-sized enterprises (SMEs).
Sugiere solicitar capital oportuno y evitar sobreendeudamientos
The bank recommends businesses assess formal and responsible financing options to maximize profits, plan their merchandise purchases carefully—avoiding overstocking—and avoid over-indebtedness with multiple entities. It also suggests opting for financial products suited to the business’s cash flow.
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