The National Bank for Economic and Social Development (BNDES) announces, next Monday (22), the reopening of the Emergency Credit Access Program (FGI PEAC). The novelty is the inclusion of individual micro-entrepreneurs (MEIs), in addition to micro, small and medium-sized companies previously covered.
So far, 40 financial institutions have already qualified to operate with the line. The program will run until December 2023.
BNDES informed that for a credit operation to be eligible for guarantee by the program, it must be destined to investment or working capital and have a value between R$ 1 thousand and R$ 10 million, with a payment term of up to 60 months and grace period between 6 and 12 months. The coverage established by the program is 80% of the contract value.
The assessment of the use of the program as a guarantee in credit operations is the responsibility of the operating banks. Each of them must limit the average interest rate on its portfolio to 1.75% per month. With these conditions, the BNDES estimates that R$ 22 billion will be made viable in new credit operations for MSMEs and MEIs by December 2023.
According to the BNDES, the idea of prioritizing guarantee funds for MEIs and MSMEs encourages the Brazilian financial market to operate with these segments. “By granting guarantees to those who earn up to R$ 300 million a year, the FGI/PEAC increases the appetite of banks to grant credit with more favorable conditions to customers”, concluded the institution.
Pandemic
The Emergency Credit Access Program, in its guarantees modality, was established by Provisional Measure 975, of June 1, 2020, converted into Law 14,042, in August of that year. Its first period of validity stimulated obtaining credit during the economic crisis resulting from the covid-19 pandemic, aiming mainly to support small and medium-sized enterprises (SMEs), associations, private law foundations and cooperatives, with the exception of credit unions.
The reopening was provided by Provisional Measure 1,114/22, of April 20, 2022, with the purpose of contracting new operations until December 31, 2023.
