Targeting low income, the new command of Caixa Econômica Federal boosted the partnership with Sebrae (Brazilian Service of Support to Micro and Small Companies) to try to leverage up to R$ 60 billion in microcredit before the elections.
The agreement was closed by the new president, Daniella Marques, former right-hand man of Minister Paulo Guedes (Economy). She was appointed to the post after her predecessor, Pedro Guimarães, was the target of allegations of sexual harassment.
Caixa’s new credit lines – of up to BRL 3,500 – will act as a political gesture for the poorest who have not yet embarked on Jair Bolsonaro’s candidacy despite the BRL 42 billion in social benefits that will be granted this year.
The intention is to reinforce these lines in an eventual second Bolsonaro term. The promise is part of his government plan, registered last week at the TSE (Superior Electoral Court).
Last week, former president Lula – who leads polls of voting intentions, according to Datafolha – defended more credit for micro-entrepreneurs, precisely those who employ the most in the country.
Caixa’s new lines come in the wake of a provisional measure, converted into law by the Senate ten days ago, which created the Microcredit Simplification Program for Entrepreneurs (SIM Digital).
During Marques’ administration, Caixa also intends to create specific policies for the female audience. The partnership with Sebrae will focus on women. Among low-income families, there is a high number of small businesses and service providers that are especially touched by female entrepreneurs.
The state-owned bank will also continue as the main operational agent for loans made by Sebrae with resources from Fampe (Aval Fund for Micro and Small Enterprises).
Through this modality, so far, R$ 8.8 billion have been granted during the pandemic (from December 2020 to June this year), 80% via Caixa, according to Caetano de Andrade Minchillo, capitalization and financial services manager at Sebrae Nacional. . The idea now is to reach R$ 25 billion.
In addition, Sebrae expects that Caixa will also be the main counter for business generated by its associates with the guarantee of BNDES through the Microcredit Guarantee Fund for loans backed with approximately R$ 15 billion intended for the fund.
“By November we should have the first loans closed,” Minchillo said. “If we still count on Pronampe [Programa Nacional de Apoio às Microempresas e Empresas de Pequeno Porte]you can reach R$ 60 billion in microcredit, most of it through Caixa.”
The potential for loans with the arrival of BNDES as guarantor, still according to Sebrae, could reach R$ 410 billion in total, which would make microcredit reach 3.5% of the volume of credit across the country.
According to Minchillo, there is a multiplier effect on these loans. In the case of Fampe, for example, as the borrower pays monthly installments for the credit released, it feeds new loans.
Today, according to data from the Central Bank, microcredit does not reach 1% of the total volume of earmarked credit.
Until April of this year, small loans totaled R$ 10.3 billion and have been growing at a low rate. In 2020, the portfolio totaled BRL 7.8 billion.
The lines of credit are intended for individuals who provide services, in the city or in the countryside, or who carry out some productive activity “individually or collectively”.
For the individual microentrepreneur, the billing limit is R$ 81 thousand. For the borrower who already has a small company open, the lines change according to the billing, which cannot exceed R$ 4.8 million per year.
Those who seek their first loan within this new round of credit will have to formalize themselves in order to have access to more resources. They will have to contribute to the social security of their employees, for example. If they intend to continue informally, they will have access to less expensive lines.
In addition to arriving with the mission of cleaning up Caixa after the scandal of the previous management, the new command wants to implement policies to turn the bank into a focused institution focused on entrepreneurship.
MONEY FOR LOW INCOME
Microcredit lines intend to formalize entrepreneurs
Who can apply for loans?
People who carry out any productive activity or service provision, whether urban or rural, individually or collectively, as well as individual micro-entrepreneurs (MEIs) within the scope of the National Program for Oriented Productive Microcredit.
Do women have a preference?
Yup. Half of the credit is previously allocated to them – many are family breadwinners and generate income by providing services.
What is the billing threshold for small entrepreneurs?
In the case of MEIs, only those with annual revenues of up to R$ 81 thousand will be able to access the microcredit lines.
What is the maximum limit per loan?
For individuals, the first credit line granted will have a maximum amount of R$ 1,500. For MEI, it will be R$ 3,500. The amounts may be higher if the company undertakes to collect Social Security contributions. The decision, in this case, will be up to Caixa in the analysis of the borrower’s documents.
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