» Purpose

To promote equity structure recovery or restructuring, as well as financial recovery, for small-sized cooperative groups, and agricultural, agro industrial, aquicultural, and fishery centers.


» Clients

  Rural producers, either individuals or companies (legal entities), associated to agricultural, agro industrial, aquiculture or fishery; 

  Small-sized cooperative groups for agricultural, agro industrial, aquiculture or fishery. 

To enroll in the Program, the Bank will only consider the beneficiary’s main activity code in the Brazilian Qualification for Economic Activities (CNAE) of the Brazilian Institute for Geography and Statistics (IBGE).


» Eligible items

Producer enrolled in a cooperative group: payment of partial shares of stockholders’ capital to small-sized cooperative groups involved in agricultural, agro industrial, aquiculture or fishery activities in order to provide financial recovery, working capital, investment and purchase of partial shares from stockholders’ stake in the central cooperative system.

Small-sized Cooperative Group: financial recovery, working capital, and purchase of partial shares of stockholders’ stake in central cooperative systems for agricultural, agro industrial, aquiculture or fishery activities in order to provide financial recovery, working capital, and investment. 


» Types of Financial Support 

Automatic Direct or Indirect Support.

For direct support, financing should be higher than R$ 10 million, by means of the BNDES Finem product. In the direct operation, an Assessment Commission will be charged.

For indirect automatic support, financing should be up to R$ 10 million, by means of BNDES Automatic.


» Interest Rate 

Fixed at 6.75% per annum, including Accredited Financial Institution Spread of 3% per annum.


» Financing Limits

Producer enrolled in a cooperative group: up to 100% of the payment for its partial shares, up to a limit of R$ 25,000.00, regardless of credit obtained in other Programs.

The limit for the purchase of partial shares for small-sized cooperative groups shall not surpass R$ 50 million, deducting the amount loaned by the respective cooperative group to cover the payment of partial shares, working capital and financial recovery.

Small-sized cooperative groups: up to R$ 50 million per cooperative group, deducting from the limit the amounts loaned by members of the cooperative group to cover the purchase of partial shares in the respective cooperative group.


» Term of Loan

The term of loan for the operation will be up to 72 months, including a grace period of up to 24 months.

Payments regarding the debt principal will be made in biannual or annual installments, according to the client’s cash flow. Payments of interest rates will be made together with the debt principal, except during the grace period, when such payment is required on a biannual or annual basis, in accordance with the debt principal reimbursement schedule.


» Guarantees and Collaterals

In the case of direct support, collaterals are defined during the operation assessment. In the case of indirect support, at the financial agent’s discretion, in accordance with the rules of Brazil’s Central Bank.

Pledge of credit rights arising from financial investment will not be accepted as collateral.


» Special Conditions

When financing the purchase of partial shares, the following conditions must be complied with:

• Funding must be immediately transferred to the cooperative system responsible for the issuance of partial shares; such cooperative system must calculate the amount loaned for the payment of working capital, thus minimizing the responsibility of rural producers or small-sized cooperative groups associated, as the case may be, as partial-share debtors; 

• Partial shares must remain part of the issuing cooperative group capital up to the payment of the respective credit operation by rural producers or associated small-sized cooperative groups, as the case may be; 

• Funding paid to the issuing cooperative group must be invested in accordance with the Capitalization Plan and the recomposition of the approved stockholders’ capital, in compliance with the specific sector rules. 


» Expiration Date

Up to June 30, 2010, in accordance with the budget limits established for the Program. 


» Application

In the case of Indirect Operations, the interested party should contact an accredited financial institution, which will provide a list of all documents required, analyze the possibility of granting credit and negotiate guarantees. After approval by the institution, the operation will be sent to the BNDES for appraisal and subsequent release of resources.

In the case of Direct Operations, the interested company should prepare its request for support, accompanied by an Inquiry Letter duly filled out in accordance with the Information Guidance for Previous Consultation, and send it to: 

The Brazilian Development Bank (BNDES)
Área de Planejamento - AP
Departamento de Prioridades - DEPRI
Av. República do Chile, 100 - Protocolo - Térreo
20031-917 - Rio de Janeiro /RJ