Sebrae wins authorization from the Central Bank to offer a loan

The Brazilian Support Service for Micro and Small Enterprises (Sebrae) gained Central Bank authorization to release loans. The initial capital is R$ 600 million. It is the first time that Sebrae will act directly in the granting of credit. The company is recognized for its consulting service to small businesses.

Read more: Caixa releases up to R$ 2,600 in the Auxílio Brasil loan, but customers complain

Sebrae is also a facilitator by presenting the lines of credit available at financial institutions. It also operates the Guarantee Fund for Micro and Small Companies (Fampe), to facilitate access to credit, with more than 479 thousand operations and R$ 25.3 billion released.

Loan by Sebrae

In addition to all this, Sebrae will now offer loans through a new fintech that was created by the company. It’s Sebraecred. The initial capital of R$ 600 million is well above the minimum of other companies, which start with R$ 1 million and gradually grow in value.

Thus, the authorization of the Central Bank allows Sebrae to set up a direct credit company (SCD). It is yet another strategy that should complement existing ones.

Sebrae is authorized to carry out credit operations through an online platform with its own resources, without the possibility of raising public money. Expanding the service offering may also include:

  • Distribution of insurance linked to operations granted by it through an electronic platform and issuance of electronic money;
  • Credit analysis for third parties;
  • Third party credit collection.

Soon, more details of the service should be released by Sebrae. The Central Bank also authorized the creation of other direct credit companies.

For example, the São Paulo Commercial Association (ACSP). It has an initiative similar to that of Sebrae and was created in 2020. It is called ACCrédito. The initial capital was R$50 million and has now risen to R$75 million.

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