Loan of card machine starts to be valid
The new credit modality is the card machine loan that allows microentrepreneurs (MEI), microenterprises and small businesses, who have made sales through payment machines, to access credit, giving as collateral the amounts still to be received from future sales.
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The Peac Maquininha program is part of the provisional measure sanctioned on Wednesday (19) by President Jair Bolsonaro. The measure was created with the aim of combating the impacts of the new coronavirus on the Brazilian economy.
The loan, which functions as a cash flow advance, will have an interest rate of up to 6% per year on the amount to be released, but the rate is capitalized every month.
The debt can be contracted until December 31, 2020 and the payment term is up to 36 months, which includes a six-month grace period to begin making payments.
How will the card machine loan work?
The amount of credit that may be released will be limited to twice the average monthly sales made per machine and the maximum amount will be R$1,000,400 per contractor.
This average will take into account sales made using this payment method between March 1, 2019 and February 29, 2020, excluding months with no sales (zero billing amount per credit card machine).
The guarantee given in the loan based on future sales must be 8% of these amounts, which will be transferred to the bank.
The same limit will be applied per day and the percentage will be retained by the institution that makes the loan.
However, only the amounts from sales made after the end of the grace period may be retained and the payment of loan installments must occur through a clearing and settlement system linked to these payment machines.
If the amounts from future sales are not sufficient to pay the installments, financial institutions may debit the difference directly from the contractors' accounts.
Anyone who takes out a card machine loan through Paec Maquininha will not need to present any other collateral, such as real estate, for example, or personal collateral, with the partner's joint and several liability being permitted, according to the bank's credit policy.
It is also worth mentioning that contractors will be exempt from fees and charges.
Conditions
There are some conditions for lending a credit card machine:
- For this type of credit, the interested party cannot have any type of credit operation still active in which he has given as collateral the amounts to be received through the payment machine;
- In addition, you will also need to be registered with the National Registry of Legal Entities (CNPJ) and fall within the income brackets for micro and small businesses that are provided for in Complementary Law 123/06;
- This type of loan can be made through contracts signed electronically or digitally;
- The remaining debt will be demanded in one lump sum from anyone who fails to pay three monthly installments or ceases operations, in addition to the situations already provided for in regulations by the National Monetary Council and the Central Bank.
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