Pronampe: The new phase of the credit program for small businesses begins; see how it works
The maximum interest rate to be charged will be equal to the Selic rate (currently at 13.25% per year), plus 6%, with a maximum payment term of 48 months.
From this week, small entrepreneurs interested in taking out loans through the National Support Program for Micro and Small Enterprises (pronampe) can now look for financial institutions.
The maximum interest rate to be charged from entrepreneurs within the scope of Pronampe will be equal to the Selic rate (currently at 13.25% per year), plus 6%, that is, approximately 19.25% per year. O maximum total term for payment is 48 monthswith a maximum grace period of 11 months and 37 installments for payment.
The government’s estimate is that the new phase of Pronampe can guarantee up to 50 billion reais in credit operations for micro and small companies, including individual microentrepreneurs (MEI).
The financing can be used for investments, such as acquiring machines and carrying out renovations, and for working capital, such as paying employees’ salaries and bills such as water, electricity and rent.
Credit is granted by financial institutions affiliated to the program and is guaranteed by the Operations Guarantee Fund (FGO), managed by Banco do Brasil.
What is Pronampe?
Pronampe is a program that provides loans for small businesses with lower interest rates and a longer term to start paying. It was created in May 2020 to help entrepreneurs face the economic crisis caused by the pandemic.
Last year, Pronampe became a permanent public policy of the federal government.
How to apply for a Pronampe loan?
According to the Federal Revenue, in order to obtain the loan, it will be necessary for entrepreneurs to share the billing data of their companies with the financial institution. This sharing is done digitally, by accessing the e-CAC, available on the Revenue website, clicking on authorize data sharing.
Once the information is shared, the entrepreneur will be able to negotiate the loan with the bank.
If the bank is not listed in the list of possible recipients at the time of data sharing, the entrepreneur must contact the bank branch and check the forecast for joining the system.
Who can access the Pronampe loan?
- Individual Microentrepreneurs (MEIs);
- Micro-enterprises with revenues of up to R$ 360 thousand per year;
- Small companies with annual revenues of R$ 360 thousand to R$ 4.8 million;
- Medium-sized companies with revenues of up to R$ 300 million.
What are the Pronampe loan rules?
- The company can borrow up to 30% of annual gross revenue recorded in 2019;
- For new businesses, with less than a year of operation, the financing limit is up to half of the share capital or 30% of the average monthly billing;
- Each loan is guaranteed by the Union of up to 85% of the resources. All public and private financial institutions authorized to operate by the Central Bank can operate the credit line;
- The company that opts for financing must maintain the number of employees for up to 60 days after taking out the credit.
How is the payment of the Pronampe loan made?
- The amount can be divided into up to 48 installments. The maximum annual interest rate will be equal to the Selic rate (currently at 13.25% per year), plus 6%.
- The deadline to start repaying the loan has increased to 11 months.