The House of Representatives may vote on credit for micro and small businesses this Wednesday.
The project creates a program that grants more accessible credit to the micro and small business sector and makes R$ 13,6 billion available in investments.
Brazil Agency - The plenary of the Chamber of Deputies may vote this Wednesday (22) on a special credit program for micro and small businesses, totaling R$ 13,6 billion.
The proposal, named the National Program to Support Micro and Small Businesses (Pronampe), grants more accessible credit to the sector and is one of the measures to support the economy amidst the crisis of the new coronavirus pandemic (COVID-19). The proposal is one of four items on the House's agenda.
According to the draft bill, the credit will be allocated to micro-enterprises, which have an annual gross revenue of up to R$ 360, and small businesses, whose annual revenue is up to R$ 4,8 million. The projected interest rate is 3,75% per year, with a 6-month grace period before payments begin and a total term of 36 months.
The loans will be managed by Caixa Econômica Federal, Banco do Brasil, Banco do Nordeste, credit unions, and cooperative banks. According to the proposal, the federal government will cover 80% of the loan amount, with the financial institutions covering the remaining 20%.
The text, already approved in the Senate, also provides for the transfer of R$ 10,9 billion from the Union to the program, further stipulating that the return of these loans be entirely allocated to the National Treasury for the payment of public debt.