National support program for micro and small businesses

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The Federal Government sanctioned Law 13,999 of May 18, 2020, approving the National Support Program for Micro and Small Businesses (PRONAMPE) with the objective of developing and strengthening small businesses during the Coronavirus pandemic.

Want to know more about the National Support Program for Micro and Small Businesses? Check it out below!

-> Who can join?
The program is aimed at micro-enterprises with revenues of up to R$360,000.00 and small companies with revenues of up to R$4,800,000.00, considering gross revenue earned in 2019 for classification.

For companies that have been in operation for less than a year, micro-enterprises or small businesses will be considered those whose average monthly turnover multiplied by the months of operation does not exceed the pre-established limits.

-> What will be the value of the credit granted?
Companies will be entitled to credits worth up to 30% of their annual gross revenue for 2019.

For companies that have been in operation macedonia whatsapp lead for less than a year, the credit limit will be up to 50% of the share capital or up to 30% of the average monthly revenue recorded since the start of their activities. In other words, whatever is most advantageous for the company.

-> What will be the payment terms?
The credit provided for in the program will have an annual interest rate equal to SELIC, plus 1.25% on the amount granted.

The term for payment of the acquired loan will be 36 months.

Note: Furthermore, the 8-month grace period rule for payment of the first installment, previously provided for in the bill, was vetoed.

-> What will be the institutions’ requirements?
Financial institutions are exempt from requesting the following certificates and evidence for credit release:

– Certificate of labor debts;

– Proof of regular status of the Voter Registration Card;

– The FGTS regularity certificate;

– Certificate of No Debts with the INSS;

– Certificate of No Federal Debts;

– Proof of payment of ITR;

– Proof of regularity of debts before CADIN.

To grant credit, financial institutions may only require a personal guarantee from the credit applicant in an amount equal to the loan taken out, plus charges.

For companies established less than a year ago, these guarantees may reach up to 150% of the contract value, plus charges.