Created in 2020 to help companies affected by the covid-19 pandemic, the National Support Program for Micro and Small Businesses (Pronampe) will have lower interest rates and a longer term to pay the installments. The changes consist of Provisional Measure 1,139edited tonight (27th).
The term of the credit lines increased from 48 to 72 months. Interest will be defined by the Special Secretariat for Productivity and Competitiveness (Sepec) of the Ministry of Economy. Until now, Pronampe lines followed the Selic rate (basic interest rates in the economy) plus 1.25% on the contracted amount, for financing granted in 2020, or Selic plus 6% on the contracted amount, for financing granted from 2021 .
The changes are not only valid for future contracts. The provisional measure authorizes the renegotiation and extension of current credit operations under the conditions established by Sepec. According to the Ministry of Economy, the interest will not be changed, but will be regulated by the folder.
In a note, the General Secretariat of the Presidency of the Republic informed that the changes intend to rebalance the financing and recover the investment capacity of the borrowers, who began to have difficulties in paying off the financing after the increase in the Selic rate, which jumped from 2% to year in March 2021 to 13.75% in August this year.
“In the context of the deterioration of corporate indebtedness due to the recent increase in benefits linked to the Selic Rate, the preservation of small and medium-sized companies affected by the health measures to combat covid-19, the maintenance of jobs is also sought. and the reduction in demand for assistance from unemployed workers, as well as the faster economic recovery in the post-covid period”, reads the statement.
Pronampe provides credit to micro and small companies with difficulties in maintaining their business. Contracting is faster than traditional lines of credit because any defaults are covered by the Operations Guarantee Fund (FGO), made up of resources from the Budget, private donations and resources from international credit operations. This fund reduces the requirement to supply the micro or small company’s own assets as collateral to cover possible defaults.
Article changed at 9:35 pm to add information;
