Bolsonaro imposes sanctions on Bronambi; The credit estimate for small and micro enterprises is R$50 billion

Bolsonaro imposes sanctions on Bronambi;  The credit estimate for small and micro enterprises is R$50 billion

President Jair Bolsonaro (PL) on Wednesday, 25th, at a ceremony in Palácio do Planalto, passed the bill creating new rules for the National Support Program for Small and Micro Enterprises (Pronampe).

According to Bolsonaro, micro and small businesses are responsible for creating jobs in Brazil and need more access to credit.

The sanctioned proposal authorizes the use of the resources already contributed by the federation to the Operations Guarantee Fund (FGO), which supplies Pronampe, until December 31, 2024, by setting the deadline for returning unused resources until 2025. The estimate is that R$50 billion It can be borrowed in a new phase of the program.

The enacted law also creates a new financing program for companies with a current total revenue of R$300 million, the so-called Credit Stimulus Program (PEC). Of the total, 70% of the resources should serve small businesses, i.e. whose revenue reaches R$4.8 million.

This new line of credit will not be guaranteed by the federal government or the contribution of federal resources, provided that the banks fully assume the risks of the operation. In return, financial institutions will be able to use tax credits in the event of loss, bankruptcy or extrajudicial liquidation. This program is expected to allow the employment of up to R$14 billion by the end of 2022.

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