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Note: Starting from 09/01/2009 new operations guaranteed by FGPC will not be contracted.
» Purpose
The Guarantee Fund for the Promotion of Competitiveness - FGCP was established by Law 9,531 of 12.10.97 and came into force on 07.06.99, through Decree Nº. 3,113. It is a fund that was created with resources from the National Treasury and managed by the BNDES. Its purpose is to guarantee part of the credit risk incurred by financial institutions in operations with micro and small companies, and medium-sized export companies that make use of the BNDES' financing lines, specifically
Automatic BNDES, FINAME, FINEM and
Export Support.
» Clients that may be frameworked for use
Micro Enterprises: gross annual* or annualized operating revenues of up to
R$ 1.2 million (one million two hundred thousand reais).
Small
Enterprises: gross annual* or annualized operating revenues greater than R$ 1.2 million (one million two hundred thousand reais) and less than or equal to R$ 10.5 million (ten million five hundred thousand reais).
Medium Enterprises: ross annual* or annualized operating revenues greater than R$ 10.5 million (ten million five hundred thousand reais) and less than or equal to R$ 60 million (sixty million reais),
that:
- have carried out export operations in the 36 (thirty-six) months prior to the presentation of the financing request; or
- that are manufacturers of inputs that are directly used in the production, assembly or packaging processes of goods earmarked for export, having supplied export companies in the 36 (thirty-six) months prior to the presentation of the financing request.
(*) Gross annual operating revenues are considered to be the revenues incurred during the calendar year with the sale of goods and services in one's own operations, the price of offered services and the result of others' operations, not including cancelled sales and unconditional granted discounts.
In the case of activities starting in the same calendar year, the above mentioned limits will be proportional to the number of months in which the legal entity or individual exercised activities, not considering fractions of months.
In the case of companies that are under implementation, the annual sales forecast used in the undertaking will be considered, taking into account the total installed capacity. Medium-sized enterprises that are in implementation may not be frameworked into the FGPC.
When the company is controlled by another company or belongs to an economic group, the size classification will take the consolidated gross revenues into consideration.
» Operations that are eligible for frameworking
The risk guarantee by the FGPC may be granted to operations whose risk is classified as level "AA", "A", "B" or "C", according to Resolution Nº. 2,682, from 12.21.1999, of the Brazilian Central Bank.
» Guarantee Commission
Commission is to be paid to the FGPC by the Beneficiary of the guarantee, corresponding to the percentage obtained by multiplication of the 0.15 factor (fifteen hundredths) by number of months of the operation's total period, incurring on a share of the guarantee's credit. The calculated value will be added to the debt's principal, at the time of the first release of resources, being charged at the same time required by the granted credit.
» Collaterals
Every financing operation in the ambit of the Automatic BNDES and FINAME lines with a risk guarantee from the FGPC will require a collateral guarantee from the business's controlling partner(s), for the total amount of the debt, except in transactions with cooperatives, foundations and associations, when the collateral guarantee may be provided by third parties.
In addition, the following should be observed:
- in operations performed with medium-sized enterprises, with coverage for any value from the FGPC, the constitution of real guarantees will be, at least, of a value that is equal to that of the financing;
- in operations performed with micro and small enterprises, with coverage from the FGPC that is greater than R$ 500,000 (five hundred thousand reais), the constitution of real guarantees will be, at least, of a value that is equal to that of the financing;
- in operations performed with micro and small enterprises, with coverage from the FGPC up to R$ 500,000 (five hundred thousand reais), the constitution of real guarantees will not be required.
The constitution of a pledge with the credit rights of financial investments as a guarantee for the operation will not be allowed.
In operations of Export Support, the demand and real guarantee may be discarded in financing of up to US$ 500,000 (five hundred thousand reais).
The decision pertaining to guarantees, including the use of the Guarantee Fund - FGPC, belongs to the financial institution when it approves the operation.
»
FGPC's Maximum Risk in the Financed Value
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| Company's Size and Region of Location |
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Maximum
Risk
Incurred by the FGPC |
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| Micro, Small and
Medium Enterprises in any region of the country, in the
FINAME,
and Automatic
BNDES operations. |
80% |
| Micro and Small
Enterprises in any region of the country, in the FINEM
and
Pre-Shipment
operations. |
80% |
| Medium Exporting or Input Manufacturing Enterprises, located in the regions covered by the Regional
Dynamism Program, in the FINEM
and
Pre-Shipment
operations. |
80% |
| Medium Exporting or Input Manufacturing Enterprises, located in the regions of the Country
not covered by the Regional Dynamism
Program, in the FINEM
and
Pre-Shipment
operations. |
70% |
| Export financing operations in
Special Pre-Shipment, executed with Micro and Small Enterprises in any region of the Country. |
80% |
| Export financing operations in
Special Pre-Shipment
executed with Medium Enterprises in any region of the Country. |
70% |
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Obs:
Only companies that have not presented any accumulated delays in payments to the financial institution for more than 90 days in the 12 months prior to the date of the operation's contract may use the FGPC. Support of the FGPC for exports does not apply to companies in the process of
implementation.
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 The BNDES does not accredit or recommend any consultants, individuals or companies (legal entities) as intermediaries to facilitate, expedite or approve operations with the Bank. The same applies to other financial institutions accredited as distributors of its resources. |
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