The Emergency Credit Access Program (FGI PEAC) will be reopened by the National Bank for Economic and Social Development (BNDES), due to the need to move the economy. What is new is that individual microentrepreneurs (MEIs) and micro companies will also be covered, in addition to medium and small companies that could already benefit previously. Find out more about the return of BNDES credit access program.
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Emergency Credit Access Program
Around 40 financial institutions have already qualified and are able to distribute credit to interested companies. Check below the justifications and objectives detailed by the BNDES and learn more about how to apply for the loan.
What should be the purpose of the requested loan?
The program, which will run until December 2023, aims to contribute to the investment or working capital of the participating company.
How much can be requested?
The requested amount can vary between R$1 thousand and R$10 million. These amounts vary according to the size of the company and, therefore, the annual revenue. Detailed credit analyzes will be carried out to release the loan.
What is the deadline for payment?
The payment period is up to 60 months. The grace period can vary between 6 and 12 months after hiring.
Justification for reopening the program
The Brazilian financial market needs to stimulate MEIs and MSMEs (micro, small and medium-sized companies). Medium-sized companies earn up to R$300 million a year and, therefore, when opening doors to grant loans to a large number of companies, banks began to grant credit with rates and conditions more favorable to their customers.
The Emergency Credit Access Program was instituted through Provisional Measure No. 975, of 06/01/2020, converted into Law 14,042, of 08/19/2020. The reopening of the FGI PEAC until 12/31/2023 took place from Provisional Measure 1.114/22, of 04.20.2022, due to the need to offer credit for the recovery of the economy after overcoming the pandemic scenario, which mainly harmed small and medium-sized companies and cooperatives.
