New credit for MEI and microenterprises: value surprises Brazilians

New credit for MEI and microenterprises: value surprises Brazilians
New credit for MEI and microenterprises: value surprises Brazilians

The National Bank for Economic and Social Development (BNDES) reopened the Emergency Credit Access Program (FGI-Peac). The initiative should serve the countless Brazilian entrepreneurs, especially those who face more difficulty in obtaining a loan to invest in their own business.

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This is a new credit for the individual microentrepreneur (MEI) and microenterprises. The program is well known in Brazil, but the inclusion of both categories is a novelty. The BNDES’ intention is enable more than R$ 22 billion through the FGI-Peac. Understand better now.

New credit for MEI and microenterprises

According to the disclosure made by the National Bank, about 40 financial institutions are able to offer the credit line. To participate in the program, they must sign a pledge and offer better trading conditions. Thus, in order to offer credit, it is necessary to limit the average interest rate of the portfolios to 1.75% per month.

The BNDES forecast is that the program will last until December next year.

The new credit for MEI and micro-enterprises comes at a good time, as many smaller entrepreneurs are complaining about the difficulty to obtain resources to invest in the business. The contracting conditions defined by the banks are the biggest barriers. That’s why the program’s proposal is to make life easier for those who need credit operations ranging from one thousand to R$10 million.

The intention is to use the resources to invest in the project, whether for growth or modernization. In addition to easier access to the loan, the program offers longer repayment terms and lower interest rates.

See below the list of who can to hire the new credit through the BNDES program:

  • Micro, small and medium-sized companies with annual or annualized gross operating revenue of up to R$300 million;
  • Self-employed truck drivers who use financing to purchase capital goods inherent to the activity;
  • Individual entrepreneurs;
  • Individual entrepreneurs.

The article is in Portuguese

Tags: credit MEI microenterprises surprises Brazilians

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