THE Cashier Economics Federal informs interested parties about the release of the new microcredit for individuals and individual microentrepreneurs (MEIs). At first, the Federal government intends to reach thousands of Brazilian citizens with the program.
As of now, according to the bank’s president, Pedro Guimarães, the potential of this credit offer is around 40 million people. However, this estimate was given in the long term. In the coming months, the idea is that 5 to 10 million people will take out some type of credit.
Beforehand, in terms of financial volume, Caixa may receive up to R$ 10 billion in the total operation in six months.
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How it works?
A major differential of this new CAIXA microcredit is the interest rate. First, for individuals, the rate reaches 1.95%. On the other hand, for small entrepreneurs, the rate starts from 1.99%.
However, in both cases the debt can be paid in installments up to 24 installments, that is, two years.
The application procedure is also different for the individual and for the individual micro-entrepreneur. In the first case, it is possible to request microcredit through the application box hasin the second, the request must be in person at one of Caixa’s branches.
According to the president of the institution, “most of these people, precisely because they are negative, are outside the traditional financial system, borrow money from loan sharks and normally pay interest between 15% and 20% per month. We want to break this exorbitant interest cycle, going from that to something from 1.95%. This will generate a very large income effect.”
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When asked about the negatives joining microcredit, Guimarães said: “this rate of 1.95% per month on personal credit you will hardly have. This is even lower than some type of payroll. Microcredit without the guarantee fund is around 3.9% per month”.
New Caixa microcredit of up to R$3 thousand
The amounts that can be withdrawn will be different. While the MEI will be able to redeem microcredit in the amount of up to BRL 3 thousandthe common citizen will be able to withdraw the amount of up to BRL 1 thousand.
The new loan is related to the SIM Digital program and is expected to have two proposals, as informed.
For physical person, the loan will be fixed in the amount of R$ 1 thousand, with a monthly interest rate of 1.95% per month and 24 months to pay. To get the amount, you won’t need much bureaucracy, since the hiring can be done directly through the Caixa Tem app, just agreeing with the loan terms and waiting up to seven days for analysis.
About the MEI, the loan can be up to R$ 3 thousand, with a monthly interest rate from 1.99% per month and 24 months to pay. In this case, the interested party must go to an agency of the Cashier and it will be necessary to have at least 12 months of billing of any amount with the respective CNPJ.
Therefore, the idea is that people with the name “dirty” in the market and who have difficulties in contracting lines of credit can have access to the loan through the program. In addition, it seeks to formalize informal workers.