The objective of this study is to contribute to the development of new structured financial products in Peru, in particular as means to address the problems of access to finance faced by underserved segments such as Small and Medium Enterprises (SMEs). This document reviews how structured financial products can provide an alternative channel for SMEs to access the market. Additionally it provides suggestions regarding policy issues aimed at improving the market environment. The study concludes that: (i) one way to effectively address Peruvian SMEs credit constraints, particularly with respect to longer term financing, is the use of structured products and (ii) although the Peruvian capital markets regulatory framework regarding securitization has become more flexible in recent years, and despite being one of the least restrictive in the region, it still shows significant weaknesses.