Pronampe Loan for Microenterprises – Find Out More!
Micro and small businesses can apply for a loan from Pronampe (National Support Program for Micro and Small Businesses).
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Basically, it is a line of credit worth R$15.9 million that was created with the objective of guaranteeing resources for micro and small businesses to maintain jobs during the new coronavirus pandemic in Brazil.
What is Pronampe?
Established by Law No. 13,999, the program came into effect in May 2020 and offers loans with limits of up to 30% of the annual revenue from the previous year, that is, 2019.
Therefore, employee payments, internet bills, electricity and water bills, rent, etc., purchasing raw materials or goods, carrying out renovations, purchasing machinery and equipment are just some of the expenses that can be paid through this credit.
The Pronampe loan repayment term is 36 months. In turn, the maximum annual interest rate applied to the total loan amount will be the Selic, which is currently at 3%, up from 1.2%. The counterpart is the need to retain employees.
What are the conditions for applying for Pronampe?
According to Caixa Econômica Federal, the minimum requirements for applying for a loan are:
- Minimum contract value of R$ 15 thousand;
- The financing term is up to 36 months, with an 8-month grace period for the first installment. It's worth noting that if you opt for the grace period, the loan must be repaid within 28 months;
- The interest rate is composed of SELIC plus 1.25% per year;
- The Operations Guarantee Fund (FGO) is the guarantee for financing approval. Under this condition, the FGO Pronampe program will honor up to 100% of each contracted operation. In other words, the government acts as the guarantor, so no guarantor or equity is required for the loan to be approved.
- The government exempted the IOF (Tax on Financial Transactions) until October 2, leaving the rate at zero on contracted credit operations.
In addition to these conditions, companies with more than one year of operation can apply for a Pronampe loan with up to 30% of the average revenue obtained in 2019.
If the company has been in operation for more than a year, it may obtain a second credit limit condition: up to 50% of capital.
How to apply for a Pronampe loan?
The loan is taken out virtually, just follow the steps below:
- Access the official website and click on “I’m interested”;
- Then go to “click here to continue” and log in;
- If you don't have a registration, just do it by filling in your details;
- Please provide everything requested in the form.
Once this is done, a Caixa manager will contact you for guidance and offer the best loan conditions.
In addition to applying online, you can also request this loan by calling 0800 726 8068 or at Caixa Econômica Federal branches.
