Chamber approves MP that opens microcredit line for MEI

The Chamber of Deputies approved this Tuesday (21) a provisional measure that opens a microcredit line for MEI (individual microentrepreneurs) and that allows workers to use resources from the FGTS (Fundo de Garantia do Tempo de Serviço) to guarantee contracted loans.

The MP was approved in a symbolic vote. Members rejected suggestions to change the main text. Now, the proposal goes to the Senate, where it needs to be voted on by July 15th so it doesn’t lose validity.

The text creates the so-called Digital SIM, aimed at people who carry out some productive activity or service provision, urban or rural, individually or collectively, as well as MEIs within the scope of the National Program for Oriented Productive Microcredit. There will still be preference for women until the proportion of at least 50% is reached.

The text provides that microcredit operations will be granted exclusively to individuals and MEIs who did not have active credit operations on January 31, 2022, according to research available in the Credit Information System made available by the Central Bank.

For individuals, the first credit line granted will have a maximum amount of R$ 1,500. For MEI, it will be R$ 4,500, considering the sum of all operating contracts carried out in the Digital SIM.

The MP conditions future loans of this line to individual micro-entrepreneurs who have received technical-professional qualification, as established in an act of the Minister of Labor and Welfare.

According to the text, public and private financial institutions authorized to operate by the Central Bank may join SIM Digital. Microcredit operations must bear interest of 90% of the maximum rate allowed by the CMN (National Monetary Council) and a term of up to 24 months for payment.

The MP authorizes the use of FGTS resources to acquire shares in a microfinance guarantee fund, aimed at reducing the risks of microcredit operations to individuals and MEIs.

The rapporteur, deputy Luis Miranda (Republicans-DF), states that the measure with the greatest impact is the “use of the FGTS for application in the guarantee mechanisms of credit operations, allowing R$ 3 billion from the Fund to be allocated to these operations. ” According to the program’s rules, coverage can reach up to 80% of operations.

The MP prohibits the execution of loans with people or MEIs who have a conviction related to work in conditions similar to slavery or child labor.

The provisional measure also brings provisions that refer to the FGTS. The text obliges the domestic employer to pay the remuneration due to the domestic employee until the 7th day of the month following the month of competence.

Today, one of the criteria established by the FGTS Board of Trustees is that operations have a maximum term of 30 years. The MP extends this period to 35 years. In addition, it provides that the holder of the FGTS linked account may use the Fund’s annual withdrawal rights as collateral for microcredit operations.

The holder of the linked FGTS account may also use these withdrawal rights as the object of alienation or fiduciary assignment for the payment of part of the real estate financing installments.

Earlier, the Chamber approved the bill that authorizes the creation of funds for public consortia to finance programs, actions and projects of public interest. The text was approved in a symbolic vote and now goes to the Senate.

Public consortia may receive resources from the annual budget law, national, international and foreign bodies and entities, individuals and legal entities governed by public or private law, occasional income, including those resulting from financial investments, among others.