Caixa Econômica Federal recently launched its new Simplified Digital Microfinance Program for Entrepreneurs (SIM Digital). It offers credit through Caixa Tem to individuals and individual micro-entrepreneurs (MEIs) who wish to invest in their businesses.
However, even with easy credit, including negative ones, Caixa Tem has been denying some requests from people trying to take out the loan. Check out the most common reasons for denials now.
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Read more: Learn how to apply for loans at Caixa Tem
2 reasons why your loan application is turned down
- Having debts of more than 3 thousand reais in January of this year
MTP Ordinance No. 660, of March 28, 2022, established that even those who fit the profile, but have accounts of R$3,000 or more on January 31, 2022, you can have microcredit refused.
However, only one specific case does not enter as debt, which is family financing. However, in addition to this situation, even negative people can still get credit.
- Not fit the pattern established by SIM as an entrepreneur
The purpose of Caixa Tem SIM Digital microcredit is to stimulate mass entrepreneurship and formalize small businesses. Thus, the program's target audience are people who carry out some informal activity and wish to expand their business, whether buying inputs, machinery or working capital.
Find out what to do if your credit is not approved
Pay attention first to the loan approval criteria, as Caixa proposes some prerequisites to assess your request. It is advisable to check the applicant's CPF for any restrictions. However, the bank can deny credit to defaulters.
Another suggestion is the amount borrowed from the relevant user. Thus, Caixa will also assess whether there is another loan that may affect its payment in any way. In addition, as recruitment is done entirely through the Caixa Tem application, some users find it difficult to appeal the rejected decision.
