Loan from Banco do Povo for MEIs: see how it works

The known People's Bank paulista continues working with its line of credit which was created to assist entrepreneurs during the COVID-19 pandemic we are facing. The institution offers exclusive conditions, with interest rates lower than normal, from 1% to up to 0.35% per month.

Read more: MEIs and small businesses can now apply for a loan through Pronampe

The payment period also increased, from 24 months to 36 months, including the grace period, which increased from 60 days to 90 days. In short, you apply for the loan and start paying only after three months.

After carrying out the credit analysis and having proven the address, it is possible to request a line of credit through Banco do Povo in the format of legal entity, from micro to large companies (MEI, ME, LTDA, EIRELI) and also urban and rural micro-entrepreneurs, including those in the sector informal.

The value of the first loan made through Banco do Povo can vary, starting from R$ 200 and reaching up to R$ 20,000. The limit for granting credit without the function of having a guarantor together increased from R$ 1 thousand to R$ 3 thousand.

How to apply for the loan?

If you are an entrepreneur and intend to seek credit, know that it will only be possible to do so by going to municipality where the projects were registered and installed, presenting proof of address.

The documents required to apply for the loan are:

• CNH or RG with CPF of who will be the guarantor and spouse, if any. If you choose to present the CNH, the other information will need to be sent in a declared form of the guarantor and his spouse or some document with a photo. If you are a foreigner, you must present the National Registry of Foreigners (RNE) or the National Migration Registry (RNM);
• CNPJ registration, which can be obtained on the Federal Revenue website;
• CNPJ proving that you are an individual taxpayer and legalized with the Casa da Agricultura in the region, if you are a rural producer;
• Debt Clearance Certificate (CND) or a Debt Clearance Certificate valid and issued by the Brazilian Federal Revenue Service (RFB);
• Valid FGTS Certificate of Good Standing (CRF), issued by Caixa Econômica Federal or Annual List of Social Information (RAIS), for those who own a company without an employee;
• If so, state registration;
• If so, municipal registration;
• Marriage certificate of the applicant and also of the partners, if any. If you are separated or widowed, you must present the certificates. If you are in a stable union, you must present a document that proves it;
• Up-to-date proof, less than 90 days old, of the company's address or, if not available, of the person in charge. Water, electricity or telephone bills are valid;
• Bank account card or a statement in the name of the company, or in the name of the partner who will receive the funds;
• Budget of what will be financed, which contains the name of whoever is the supplier or the corporate name, CPF or CNPJ number, address and telephone number, not to mention also a detailed description of the goods, services or even the goods that will be financed and the payment method to View. If the credit is for Working Capital, in the form of budget replacement, copies of purchase invoices for the last three months may be accepted;
• Business Plan, for enterprises at the beginning of their activity.

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