Regulatory AlertsPeru: lending & credit regulation
Partially regulatedLending regulated by SBS; Cooperatives (Coopacs) require license; Fintechs face regulatory gap
- Lead regulator
- Superintendencia de Banca, Seguros y AFP de la Seguridad Social (SBS)
- Also involved
- SUNAT (Tax) · INDECOPI (Consumer Protection) · SBS (AML/CFT)
- Core law
- Law No. 26702 (Organic Law of the SBS) and Law No. 29324 (Cooperatives)
- Entry capital
- PEN 1,000,000 (Coopac Level 2)
- Approval timeline
- 6-12 months for Coopac incorporation
- Customer assets
- Segregated accounts required for regulated entities
- Data protection
- Law No. 29733 (Personal Data Protection) · APDP
- Sandbox
- No
Traditional lending is strictly supervised by the SBS, primarily targeting banks and Savings and Credit Cooperatives (Coopacs). Coopacs are the primary non-bank entities authorized to lend to the public, subject to tiered capital requirements. The regulatory stance on non-bank digital lenders and P2P platforms remains ambiguous, as no specific fintech licensing regime for consumer credit has been fully enacted, creating a 'regulatory gap' for new market entrants outside the cooperative structure.
Which licence do you need?
| Your activity | Requirement | Capital | Timeline | Authority |
|---|---|---|---|---|
| Consumer lending | LicenceCoopac License (Level 2 or 3)[1] Only Coopacs or banks may legally lend to consumers; no specific fintech license exists. | PEN 1,000,000 (Level 2) | 6-12 months | SBS |
| SME / commercial lending | LicenceCoopac License (Level 2 or 3)[1] SME lending is permitted under the same cooperative framework as consumer lending. | PEN 1,000,000 (Level 2) | 6-12 months | SBS |
| Microfinance | LicenceCoopac License (Level 2 or 3)[1] Coopacs are the primary vehicle for regulated microfinance in Peru. | PEN 1,000,000 (Level 2) | 6-12 months | SBS |
| Buy-now-pay-later | Uncertainverify with regulator No specific BNPL regulation; likely falls under general consumer credit rules. | — | — | — |
| P2P lending platform | Uncertainverify with regulator P2P lending is not explicitly regulated; operates in a legal gray area. | — | — | — |
| Credit bureau / scoring | RegistrationCredit Bureau Registration[1] Credit bureaus must be registered with the SBS under Law No. 29324. | — | — | SBS |
| Debt collection | RegistrationCollection Agency Registration[1] Collection agencies must be registered with the SBS. | — | — | SBS |
New — what changed recently
- 2025-07-03SBS Resolution No. 02334-2025 — Amended accounting manuals for Level 2 and 3 Coopacs, updating account catalogs and reporting requirements.[1]
Market-entry checklist
- 1Establish Cooperative StructureIncorporate as a Savings and Credit Cooperative (Coopac) to access the SBS licensing framework.
- 2Meet Capital RequirementsSecure minimum capital of PEN 1,000,000 for Level 2 Coopac status.
- 3Apply for SBS LicenseSubmit application to the SBS for authorization to operate as a financial entity.
- 4Implement AML/CFT SystemsEstablish compliance programs as required by SBS and SUNAT regulations.
- 5Register with APDPComply with Law No. 29733 for personal data protection and register with the APDP.