Financial difficulties became frequent with high inflation there. The solution that many people adopted was loans. Looking at the group of Brazilian entrepreneurs, this year the government launched the Digital Microcredit Streamlining Program for Entrepreneurs (Digital SIM card) with a credit limit of up to 3 thousand Brazilian riyals. Find out more below!
Read more: Auxílio Brasil loan launch date; know what it is
loan negatives
The method releases credit to both individuals (PF) and those who work as individual micro-entrepreneurs (MEI). The goal is to assist in grassroots entrepreneurship and promote the formalization of small businesses.
One of the most outstanding advantages of the service is the possibility to offer loans to passive people. The maximum employment varies from R$1,000 for individuals and up to R$3,000 for an MEI. The credit analysis period is up to 10 days.
interest rates
interest charged digital sim card loan It varies by group of applicants. In the case of individuals, the rate is 1.95% per month with an installment period of up to 24 months.
For MEIs, the rate is slightly higher, 1.99% per month, but the repayment tenure is also up to two years. For the category, interested parties must also submit the activity/constitution as a small business for at least 12 months.
How to apply for a digital SIM card?
In addition to the difference in interest fees, there are also different ways of contracting a digital SIM loan. Individuals wishing to establish or expand their activities can request R$1,000 through caixa team app. The advice is that it is updated so that the credit option is visible.
Those working as MEIs can apply for a microcredit of up to R$3,000. Unlike individual entrepreneurs, small business owners must go to the branch of Caixa Econômica Federal with personal documents and also the company that proves that they have been in business for more than a year.
