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Posted on May 6, 2016
The National Social and Economic Development Bank (BNDES) has improved conditions offered to clients looking to refinance credit from other products offered by the bank. The main goal of the measures is to give a financial boost to the companies, especially the smaller ones.
MSMs interested in refinancing loans taken with the BNDES PSI plan and with no outstanding payments can now do it now with long term interest rates (currently at 7,5% per year), with 1,6% compensation to BNDES and up to 6% compensation to the financial agent. The conditions previously offered (Selic plus 1,4% compenation to BNDES and the financial agent spread freely negotiated) are still in place for large-size companies.
The bank also improved working capital rates offered to MSMs through the BNDES Support to Strengthening Job and Income Capabilities Program (BNDES Progeren). The lowest amount charged to micro and small companies was reduced from 11,59% to 10,20% per year; 14,63% to 12,59% in mid-size companies; and 17,15% to 14,65% in mid-to-large-size companies. For large-size companies, the rate stays at 17,15%. On this rate there is still the financial agent’s spread, freely negotiated with the credit taker.
For more information on the new measures, click here.