» Norms Applicable to BNDES Transfer Agents

Purpose

Promote the popular economy by offering resources for productive microcredit oriented to formal and informal entrepreneurships, aiming at generating employment and income.


Eligible Projects 

The projects will be supported if they utilize the microcredit as an instrument of social inclusion, associated to the complementation of social politics and/or integrated to actions that promote local development. 


Transfer Agents 

1st Floor: Agent that transfer resources directly to micro entrepreneurs;

2nd Floor: Agent that transfers resources to agents of the 1st Floor.

Fomentation Agencies (1st or 2nd floor);
Public Financial Institutions (1st or 2nd floor);
Central Credit Cooperatives (2nd floor);
Cooperative Banks, (2st floor);
Organizations of Civil Association of Public Interest [OSCIP], (1st floor); and
Credit Associations to Micro-entrepreneurs [SCM] (1st floor).


Financing Conditions

A) Operations with Transfer Agents from the 1st Floor:

Interest rates: Financial Cost + BNDES spread
- Financial Cost: Long Term Interest Rate - TJLP.
- Spread: 1.5% annually.

Payment Terms: up to 96 months, including 24 months for payment failure period.

Share Level: up to 85% of resources directed exclusively to microcredit fund.

Financing Value:
- Minimum: R$ 1 Million
- Maximum Financing Value, defined as follows:

I) BNDES financial agents, based on the Credit Limit; and

II) Transfer agents not accredited as BNDES financial agents:

a. OSCIP: Global leverage factor limited to three times the Stockholders' Equity.
b. Company of Credit to Microentrepreneurs: Global leverage factor limited to five times the Reference Equity. 
c. Singular Credit Cooperatives

i.  Affiliated to BNDES financial agents: Agent's leverage factor, limited to three times the Reference Equity;
ii.  Non-affiliated to BNDES financial agents: leverage factor equivalent to 50% of its Reference Equity.

B) Operation with Transfer Agents from the 2nd Floor:

Interest rates: Financial Cost 
- Financial Cost: Long Term Interest Rate - TJLP.

Payment Terms: up to 96 months, including 24 months for payment failure period.

Share Level: up to 85% of resources directed exclusively to microcredit fund.

Financing Value:
- Minimum: R$ 1 Million
- Maximum Financing Value, defined as follows:

I) BNDES financial agents, based on the Credit Limit; and

II) Central Credit Cooperatives not accredit as BNDES financial agents.

a. Affiliated to BNDES financial agents: Agent's leverage factor, limited to three times the Reference Equity;
b. Non-affiliated to BNDES financial agents: leverage factor equivalent to 50% of its Reference Equity.


Collaterals

The guarantees are defined according to Operational Policies of BNDES, following the particularities of microcredits.


Resource Use Conditions

In the active portfolio (operations of productive and guided microcredits) of the institution, there will be a minimum of 80 % of the relative resources of the project total value, comprehending resources derived from BNDES, as well as the consideration of resources from the institution.


Target Audience

Individuals and companies (legal entities) engaged in small-sized production activities, and earning annual gross revenues equal to or lower than R$ 240,000.


C) Operation with Final Enterpreneur

Interest Rates: up to 4% monthly (considering all tariffs or charges related to the granted loan).

Credit Opening Fee [TAC]: up to 3% on the financing value.

Maximum amount per entrepreneur: R$ 15,000.00.

Payment Term: to be defined in the operation analysis according with the credit concession policies of the credit transfer agent.

Modalities: working and/or fixed-investment capital.


General Guideline to Microcredit Transfer Agents 

the project to be presented by BNDES for resource capitation shall contain a work plan of the institution with target proposals and social and economic-financial result and performance indicators, qualitative and quantitative, so to allow the evaluation, follow-up and control of activities;

the working plan should present an action strategy to reach micro entrepreneurs, pointing out their operating focus. For instance: productive conglomerates; complementarity of other programs or social projects; specific productive sectors;

the transfer microcredit agents shall send to BNDES, through electronic means, all the information, established by BNDES, of the contracts made with the final borrowers;

once the information system and accounts plan standards for OSCIP are established, they shall, at any time, adequate them in accordance with applicable statues and legislation; and

the microcredit transfer agents should be qualified with the Ministry of Work and Employment as productive-oriented microcredit institutions.


Application

Support request for microcredit transfer agents are addresses to BNDES through a Consult Letter - fulfilled as to the Guide on Information for Previous Consulting - and sent to:

Banco Nacional de Desenvolvimento Econômico e Social [BNDES]
Área de Planejamento [AP]
Departamento de Prioridades [DEPRI]
Av. República do Chile, 100 - Protocolo - Térreo
20031-917 - Rio de Janeiro, RJ



» For further information:

Área de Inclusão Social/Departamento de Economia Solidária 
Avenida República do Chile, 100 - 8o andar
20031-917, Rio de Janeiro - RJ
Tel: (21) 2172-8767/8283/7956/8318/6381;
Fax: (21) 2172-8448


» See:

Access Conditions to Micro Entrepreneurs

BNDES and the Microcredit