Micro and small companies and individual micro-entrepreneurs (MEI) that contract financing from the Credit Incentive Program (PEC) must have at least 24 months to pay off the operation. There will be no grace period, with the borrower starting to pay the installments right after the contract is signed.
The measure is included in the regulation of the PEC, approved today (29) by the National Monetary Council (CMN). The agency regulated the Provisional Measure 1.057/2021, published at the beginning of the month, which launched the special program for small businesses and MEI.
The CMN also determined that the credits obtained through the program cannot be used to settle other debts with the bank. According to the Central Bank, the PEC intends to give smaller companies better conditions to face the covid-19 pandemic and prepare for the economic recovery.
Unlike pronampe, which has an Operations Guarantee Fund (fund that covers eventual defaults) supplied with contributions from the National Treasury, the PEC will not have guarantees from the Union. The financing of the new program will be entirely financed by financial institutions, with rates defined in free negotiation.
According to the economic team, the PEC should generate up to R$ 48 billion in credit for MEI and companies that earn up to R$ 4.8 million per year. A similar program was issued last year to benefit companies with sales of up to R$300 million, but the provisional measure was no longer valid in Congress.
To encourage the adhesion of financial institutions, the PEC provisional measure authorized banks to include the amount borrowed through the program in capital for prudential purposes, resources intended to cover possible defaults.
The CMN also authorized banking correspondents, companies hired by banks to provide services to customers, to act digitally. According to the Central Bank (BC), the authorization was in effect, but the agency decided to make the text clearer after doubts by financial institutions.
According to BC, the digital action is in line with the third phase of open banking, scheduled to take effect on August 30 and which includes the sharing of information about transfers via Pix.
“The inclusion of virtual correspondents is a natural evolution resulting from the digitization of the economy and is in line with the expected implementation of the service for forwarding a credit operation proposal, in phase 3 of the open banking”, highlighted the BC.
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