» General Purpose

To foster the production, purchase and export of capital goods; and technological innovation.

The program covers the following Subprograms:

Capital Goods
Innovation
Pre-Shipping Export

» Clients

According to rules for FINEM, Export Lines, FINAME, FINAME LEASING, AGRICULTURAL FINAME and BNDES AUTOMATIC products, as the case may be.

The program does not provide financial support to Brazilian companies under control of foreign capital conducting business activities not provided for in Decree N°. 2,233, of May 23, 1997, as amended from time to time. This prohibition is also valid for Lessees.


» Expiration Date

December 31st, 2009, within budgetary limits.

» Application

For automatic indirect operations, the request must be sent to the accredited financing institution.

For direct and non-automatic indirect types of financial support, they must be sent to the BNDES by means of an Inquiry Letter - which must be filled in accordance with the guidance in the Guide on Information for Previous Consulting and sent by the interested company or through the accredited financing institution 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

» BNDES PSI - Capital Goods


» Purpose

To finance isolated production and purchase of new machinery and equipment made in Brazil and accredited by the BNDES, including  agricultural machinery and equipment, as well as working capital related to such apparatuses; purchase of new buses, trucks, chassis, truck tractors, flat-bed semi trailers, cab units for articulated trucks, tow trucks, box semi trailers and trailers for trucks, including dolly, tank and similar types, manufactured in Brazil and accredited by the BNDES; purchase of new machinery and equipment made in Brazil and accredited by the BNDES which are associated to investment projects; and the purchase of goods earmarked for lease operations.

» Eligible items

1 - Buses, bus chassis and bodies; trucks; truck tractors; flat-bed semi trailers, cab units for articulated trucks; tow trucks; semi trailers; truck chassis and bodies; including dolly semi trailers and similar vehicles; as well as armor-plated trucks and special equipment suitable for mounting chassis, such as platforms, cranes, trash compactors and tanks; all of them duly registered at competent traffic bodies.

2 - Other new machinery and equipment, including agricultural machinery and equipment, including industrial sets and systems, machine tools, vessels, aircrafts, railroad and subway cars and locomotives, tractors, harvesting machines, farm equipment, roadway machinery, and paving equipment;

3 - Working capital associated to isolated purchase of new Brazilian machinery and equipment in operations with micro, small and medium-sized enterprises, abiding by the following conditions:

The installment of associated working capital that is eligible will belimited to 50% of the amount of equipment in operations with micro enterprises, and limited to 30%, for operations with small and medium-sized enterprises;

The Interest Rate, the Terms of Loan and the Level of Participation will be the same as those applied to the financing of machinery and equipment to which it is connected; and

Financing for associated working capital is not applicable to:

a) goods described in item 1;
b) purchase of road and farm machinery and tractors, including farm equipment and paving machinery;
c) operations of equipment leasing companies;
d) operations earmarked for leasing of financed goods;
e) the service industry; and
f) operations held under the modalities of Financing for Production of Machinery and Equipment and Financing to Support Manufacturer's  Trading Activities.

Only the goods referred to in item 2, except for vessels, and provided that they are associated to investment projects, are eligible to be financed within the BNDES AUTOMATIC Product.

To be eligible, goods must: be accredited by the BNDES, and have a  nationalization index in weight or in value equal or above 60%, or that abide by the PPB (Basic Manufacturing Process).

The BNDES verifies only the manufacturing process of the manufacturer  when it is accrediting a certain good. Thus, the process of accreditation of a good by the BNDES does not give rise to any responsibility for problems connected to the quality and/or technical and operational performance of such good.

» Type of Financial Support

Direct, Indirect Non-Automatic and Indirect Automatic Support.

The minimum financing amount for the direct and indirect non-automatic supports is R$ 10 million.

» Interest Rate

Fixed Rate of 7% p.a., for goods in item 1; and

Fixed Rate of 4.5% p.a., for machinery and equipment in item 2.

The fixed rate includes the 3% p.a. Accredited Financial Institution Fee, in the case of indirect support.

» Level of Participation

Micro, Small and Medium-sized Companies: up to 100% of eligible items; and

Large-sized companies: up to 80% of the amount of eligible items.

Exceptions:
• operations within the scope of BNDES Leasing FINAME may reach up to 80% of participation for eligible items, regardless of company size.
• financing to aircrafts limited up to 85% of participation for eligible items. 
• for the purchase of IT or automation goods, as provided for in Act 8,248/1991 (IT and Automation Act) of October 23,1991 and further amendments, compliant with the Basic Productive Process (PPB) and which have National Technology, the BNDES’ level of participation will reach up to 100% of the value of such goods, for large companies, except for transactions in the scope of BNDES Finame Leasing product.

In financing to Large Companies, the BNDES’ level of participation may increase up to 20 percentage points or 5 percentage points - in the specific case of operations for acquisition of business and commercial aircraft, provided that the credit interest rate for such increase is as follows: Financial Cost (Long Term Interest Rate plus 1% p.a.) + BNDES Basic Spread (2.5% p.a.) + Financial Intermediation Rate (0.5% p.a.) + Accredited Financial Institution Spread (3% p.a.). The increase of the participation level cannot be expanded in the operations in the scope of BNDES Finame Leasing product. 

» Term of Loan

Up to 96 months for goods in item 1; and

Up to 120 months for machinery and equipment in item 2.

» Grace Period

From 3 or 6 months for assets in item 1; 

From 3 to 24 months, for machinery and equipment in item 2, and

From 3 to 36 months, for machinery and equipment in item 2, provided that the financing value be more than $ 100 million for the purchase of capital goods, including support vessels, destined for the port sector, the oil and gas, electricity, subway transporation, railway and sea cargo transportation.

For leasing operations, regardless of the financed good, there is no grace period.

» Guarantees and Collaterals

According to rules for FINEM, FINAME, FINAME LEASING, AGRICULTURAL FINAME and BNDES AUTOMATIC products, as the case may be.

See: Guarantees and Collaterals 

» BNDES PSI - Innovation

» Purpose

To support companies to develop their capacity so they may systematically undertake innovative activities, as well as support technology innovation projects which involve technological risk and market opportunities.

» Type of Financial Support

Direct.

» Eligible items

1 -  Technology projects aimed at the development of new or significantly improved products and/or processes (at least for the domestic market) involving technology risk and market opportunities; and

2 - Investments in tangible capitals, including physical infrastructure; and in intangible capitals, which must be consistent with the business strategies of companies, to be presented according to the PII template (Innovation Investment Plan), which provide them [the companies] with the adequate qualification to develop innovative activities in a systematic fashion.

» Minimum amount for financial support

R$ 1 million.

» Maximum amount for financial support

For investments covered by item 2, the maximum amount of financial support will be R$ 200 million per business group within a period of 12 months.

» Interest Rate

Fixed Rate of 3.5% per annum for financing technology innovation projects provided in item 1; and

Fixed Rate of 4.5% per annum for financing investments provided in item 2.

» Term of Loan 

Up to 120 months, in financing for technological innovation projects in item 1; and

Up to 96 months, in financing for investments in item 2.

» Grace Period

Up to 36 months grace period for the principal in financing for technology innovation projects provided in item 1; and

Up to 24 months of grace period for the principal in financing for investments provided in item 2.

» Level of Participation

Up to 100% of the amount of eligible items.

» Guarantees and Collaterals

Those defined for FINEM.

At the BNDES’ discretion, financing transactions not exceeding the maximum limit of R$ 10 million are not required to present guarantees, per business group.

See: Guarantees and Collaterals

» BNDES PSI - Pre-shipping Export

» Purpose

To finance, in the pre-shipping stage, the production of goods within the Capital Goods industry (Group 1) earmarked for 
export.

» Type of Financial Support

Indirect (Automatic or Non-automatic).

» Eligible items

Those indicated on the Eligible Product List approved by the BNDES, related to Group 1.

Maximum financing is R$ 300 million per company or business group.

» Interest Rate

Fixed fee of 4.5% per annum.

Includes the Accredited Financing Institution 

» Term of Loan

Up to 36 months.

» Level of Participation

Up to 100% of the price of the good to be purchased (FOB).

» Guarantees and Collaterals

Negotiated between the accredited financing institution, which provides collateral for the operation, and the exporter. 

» Applications

Applicants must contact the accredited financing institution of their choice, which will inform the documents required, analyze the possibility of granting the credit and negotiate the collateral, if necessary.

Upon approval, the operation will be submitted for official approval and further disbursement of funds by the BNDES.

See: Pre-Shipping