Determining Factors in the Access to Financing of Peruvian Microenterprises in the Period of Economic Recovery

Despite their importance for the expansion of the economy, many microenterprises have difficulty obtaining bank loans. Therefore, it is crucial to investigate the many factors that influence the availability of capital for Peruvian microenterprises. A total of 249 microentrepreneurs were randomly selected from Huaraz, Chiclayo, Lima and Tacna (Peru) and interviewed face-to-face using a structured direct questionnaire. Access to finance for microenterprises was significantly affected by four specific factors: knowledge of government and private support; frequency of use and destination of credit; requirements to apply for financing; and the term and cost of financing. An empirical analysis of the variables that affect access to financing for Peruvian microenterprises in the period of economic recovery, a topic that has been little studied in the Peruvian context, is contributed.