BNDES emergency credit line has already approved more than R$ 2.8 billion

More than 7,700 companies from all over the country have already been granted emergency credit provided by the bank due to the Covid-19 pandemic

The National Bank for Economic and Social Development (BNDES), through BNDES Crédito Pequenas Empresas, an emergency credit line to serve micro and small companies, has already approved a total of R$ 2.82 billion since the beginning of the new coronavirus pandemic, almost 60% of the initial allocation of R$ 5 billion. 7,700 companies have already been awarded, employing around 160,000 people. The emergency lines announced by the bank already total a total of R$ 13.5 billion approved.

Two months ago, the BNDES Credit Small Business line received an allocation of R$ 5 billion to help small businesses cope with the effects of the Covid 19 pandemic. Since then, 26 partner banks and credit unions have been operating the line.

Danilo da Cunha is the owner of the drugstore Total Barra Farma located in Barra do Chapéu (SP), a municipality of seven thousand inhabitants. The businessman obtained R$ 104 thousand reais in financing from BNDES Crédito Pequenas Empresas, through the credit cooperative Cresol Fronteira. "It was all very fast. I handed over my last billings, the partners' documentation, proof of residence and the Income Tax. Three days later, the manager himself visited my pharmacy, and soon the financing was released ”, explained Danilo.

The funds will be used for a renovation and as working capital to increase products in stock. “In times of epidemic, our pharmacy sells medicine, alcohol gel and masks, but it also advises people on how to prevent coronavirus. We are happy to be able to help, it is important. Small town thing, you know? ”, He pointed out.     

The line serves from micro companies to those with annual sales of R$ 300 million, with an annual usage limit of up to R$ 70 million. With this, they are served from individual companies to companies of a more robust medium size, which usually have a larger number of employees. Since that date, 108 transactions with medium-sized companies have been approved.

Unlike other lines of the BNDES, which usually focus on investments, such as, for example, the purchase of machinery and equipment, BNDES Crédito Pequenas Empresas has a free destination and is fundamental for the moment of the pandemic, when companies face a fall revenue and require working capital.

In order to give transparency to the rates practiced by the onlending financial agents and to show who is acting in each State, the BNDES has made available a page on your website. 

The BNDES has been working to minimize the difficulties reported by businessmen to obtain the loan, always with a focus on facilitating the access of small businesses to credit. On May 9, based on the definitions of the National Congress and the government, the requirement to present negative debt certificates to the government was suspended, which represented a limitation to interested parties.