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Releasing Cheaper Credits May Be The Salvation For Thousands Of Companies And Millions Of Jobs
Micro, small, and medium enterprises are responsible for 54% of all formal employment in the country. In the current coronavirus crisis, an emergency line was adopted with the release of R$ 40 billion in funding, benefiting 1.4 million CNPJ’s and 12.2 million employees.
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A new breath will be given to this sector that is so important for the country’s economy. According to Sebrae, the launch of an extra credit line for the aforementioned group is essential to ensure the survival of businesses.
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The credit offered will be aimed at companies with annual revenues between R$ 360 thousand and R$ 10 million. According to publications from Petronotícias, this line will finance two months of payroll, with a volume of R$ 20 billion per month. The amount financed per employee is up to 2 minimum wages. The money will go directly to the worker’s account. According to the measure, the company that adopts this line is required to maintain employment during the two-month program. The government will provide 85% of the funds, while banks will contribute 15%.
According to Carlo Melles, president of Sebrae, such financing is essential for the survival of small businesses, the foundation of the country’s economy. “Brazil has 16.9 million small businesses, equivalent to 44.3% of the country’s wage bill and 29.5% of the national GDP. These companies are among the most vulnerable in the crisis. Now, these entrepreneurs are starting to see a horizon. We have insisted on the importance of encouraging the population to buy from small businesses. Now more than ever, it’s time to believe in the small neighborhood store near our homes for the purchase of products and the use of paid services, as well as online and through apps.”
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