February 7, 2023 - The Financial Market Commission (CMF) issued today Circular Letter No. 2,331, which details information banks and cooperatives must report to the Commission to adequately monitor the evolution of loans guaranteed by the Chile Apoya program of the Guarantee Fund for Small and Medium-Sized Entrepreneurs (FOGAPE, for its Spanish acronym). The required data includes applications submitted; granting of these loans; their interest rates; main features of these operations; and the inclusion of parameters that allow monitoring of debtors' payment behavior.

FOGAPE's Chile Apoya program is developed within the framework of Law No. 21,514 and Supreme Decree No. 435 of the Ministry of Finance, whose purpose is to promote financing of micro and small businesses to reactivate and recover the economy after the Covid-19 pandemic.