The federal government has announced new financial assistance that is part of a program to simplify digital microcredit for entrepreneurs, called SIM Digital. The microlending program will benefit individuals and individual microentrepreneurs (MEIs).
The new R$1,000 aid issued through the microcredit should cover nearly 5 million workers in the first year of issuance alone. The offer went into effect at the end of March.
The amounts to be allocated to the microlending program amount to 3 billion Brazilian riyals, extracted from the Lending Compensation Fund (FGTS). The implementing agency of the program is the Caixa Fund for Microfinance Guarantee (FGM).
The digital SIM has two processes designed by individuals and MEIs. According to Pedro Guimarães, President of Caixa Econômica Federal, the program is scheduled to start next Monday, March 28.
Modalities of the Microcredit Program
- singly. This method will allow access to a balance of up to 1000 BRL. The interest rate will be 1.95% per month, and the loan can be divided into 24 months. It should be noted that even those who are passive can get the program loan;
- Legal Entities. Here, individual micro-entrepreneurs (MEIs) benefit. The issued balance for this group can be up to R$3,000. The amount of the premiums is the same as that specified for individuals, 24 months and with a slightly higher interest rate than the first group: 1.99%. Also in the case of MEIs, only entrepreneurs with an annual gross income of R$ 360 thousand will be able to participate in the microcredit program.
How do I apply for assistance up to R$1,000?
For individuals, microloans will be provided via mobile phone, through square his. Anyone who wants to rent the service does so automatically, however, analyzing the release should take an average of one week.
In the case of legal entities entitled to receive microcredit, i.e. MEIs, the contract must be requested at the actual branches of Caixa. However, in a second moment, more specifically within 45 days, this group will also be able to request a contract for credit through Caixa TEm.
Can I apply for a small loan if my name is dirty?
Citizens with dirty names can apply for a small loan of R$1,000 or R$3,000. You will have access to loans including those with a bad (negative) name at credit analysis institutions, such as Serasa and SPC Brasil.
How to use Caixa Team?
After downloading the application, the user must perform the registration update in Caixa Tem. For this, the application asks the user to scan the ID document, send a “selfie” and report the monthly income.
In the case of MEI, credit must be requested at agencies. To be hired, a citizen must have an account with Caixa, have 12+ months of bills such as MEI and provide proof of residency, personal and company documents.
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Charlotte Whitmore is a contributor at Mediarunsearch.co.uk, covering a broad range of topics including news, politics, business, technology, sport, entertainment, and lifestyle. She focuses on delivering clear, balanced reporting and practical information that helps readers stay informed about current events and emerging developments. Her work highlights stories that matter to everyday audiences, with an emphasis on accuracy, relevance, and accessible journalism that keeps readers connected to the issues shaping the UK and beyond.