Individual microentrepreneurs (MEIs) and informal workers will have access to a new modality of microcredit launched this Thursday (17) by the federal government. The Digital Microcredit program for Entrepreneurs – SIM Digital is included in a Provisional Measure (MP) signed by President Jair Bolsonaro, during a ceremony at Palácio do Planalto. Conceived by the Ministry of Labor and Social Security, the initiative can reach around 4.5 million workers, including individuals and MEIs.
The credit will be up to R$ 1 thousand for individuals and up to R$ 3 thousand for legal entities (MEI). In the case of individuals, the interest rate will be 1.95% per month and the loan can be divided into 24 installments. The credit for the MEI will have interest of 1.99% per month, also with discharge in up to 24 installments. Only legal entities with productive activity with annual gross revenue of up to R$ 360 thousand will be able to participate.
According to the president of Caixa Econômica Federal, Pedro Guimarães, the new modality will be available from March 28 and individuals will be able to contract the loan directly through the Caixa Tem app. Even people with a negative name for credit will be able to participate in the program. The state bank will be the main financial agent of SIM Digital.
In the case of MEIs, initially, the contracting of a loan can only be done in Caixa branches, in person. The expectation that, later, the credit can also be contracted in a fully digital way.
According to the government, the program has no fiscal impact and will use R$ 3 billion in resources from the Severance Indemnity Fund (FGTS) to acquire shares in the Microfinance Guarantee Fund (FGM) as a way of mitigating the risks of operations. The new modality is aimed at people with no credit history and who, therefore, have difficulty obtaining financing from banks and conventional financial institutions.
