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Banco do Brasil Partners with iFood to Enable Couriers to Finance 100% of New Motorcycles Over 48 Months with Credit Approval Requirements
The partnership announced by Banco do Brasil and iFood aims to bridge the gap between eligible couriers and the Move Brazil Motorcycles program. The agreement includes information integration and targeted communication, but enrollment remains subject to the bank’s credit analysis.
The target audience includes workers registered on delivery or transportation platforms for at least six months, who have completed a minimum of 100 rides or deliveries during that time. This rule transforms operational time and platform history into objective criteria for entering the program.
According to the announced conditions for the program, financing can cover up to 100% of the value of eligible new motorcycles, scooters, mopeds, and electric bicycles. The term extends to 48 months, with an initial grace period of two months before payment of installments begins.
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Changes Resulting from the Banco do Brasil and iFood Partnership
The central point of the agreement is identifying couriers who already meet the program’s requirements. With shared data under the necessary authorizations, the bank can direct the offer to those who fit the profile, while iFood enhances communication within the community of registered workers.
Banco do Brasil reported it has already disbursed R$17.1 million (approximately US$3.2 million) in contracts aimed at couriers and delivery riders since the program’s launch. The partnership comes at a time when the government is seeking to increase participation in the Move Brazil initiative and reduce the gap between the available resources and the credit actually contracted.
For couriers, the potential benefit lies in gaining access to a new vehicle directly for work. A newer motorcycle or electric bicycle can significantly impact maintenance costs, fuel consumption, and daily availability—factors crucial for those who rely on their own vehicles for deliveries.
However, the program is structured in two phases. The first phase determines eligibility by checking requirements such as registration time, minimum delivery count, and vehicle characteristics. The second phase involves a credit analysis conducted by the financial institution. Therefore, qualifying for the program does not automatically guarantee financing approval.
Who Can Finance and What Vehicles Are Eligible
Federal rules include app workers with at least six months of activity and 100 rides or deliveries, plus professional categories laid out in the regulations. For iFood couriers, the partnership specifically aims to facilitate the confirmation of these criteria.
The program covers new vehicles produced or assembled in Brazil within the limits defined by the initiative. Options include motorcycles, mopeds, electric bicycles, and other work-related electric vehicles that meet official specifications.
The finance term of up to 48 months expands the ability to spread the purchase cost, while the two-month grace period provides some relief before installments begin. Rates disclosed for the offer are differentiated by gender, with 0.90% per month for women and 0.97% per month for men.
The design of the program seeks to combine targeted credit with a clear productive use: the financed vehicle is a work tool. This explains the requirement for prior engagement with the activity and helps to clarify why the delivery history has become one of the operational filters.
Financing Can Ease Vehicle Costs, but Depends on Bank Approval
Purchasing a motorcycle or electric bicycle can represent a significant expense for app workers, especially when the current vehicle requires frequent maintenance. Full financing reduces the need for a down payment, but creates a monthly obligation that must align with the courier’s income over up to four years.
Therefore, the banking analysis remains crucial. The program defines who is eligible to request the benefit and which vehicles can be financed, while the bank assesses payment capacity and other credit criteria before approving the contract.
The partnership between Banco do Brasil and iFood aims to address an issue of access and communication: ensuring that the benefit reaches workers who already meet the basic conditions. For those who rely on two wheels to work every day, this initiative provides a formal financing alternative, but the final decision remains individual and subject to credit regulations.
