Emergency credit for small businesses has already exceeded R$ 40 billion

More than R$ 40 billion in credit with federal government guarantee have already been approved within the Emergency Credit Access Program (Peac), operated by BNDES, the development bank said on Tuesday (8).
The resources lent to medium and small companies by financial institutions are guaranteed by the Treasury, which made on Tuesday (8) the third contribution of R $ 5 billion in Peac, a total that can reach up to R $ 20 billion.
BNDES estimates that about 52,000 companies, which employ more than 2.3 million people, benefited from the program created in June that runs through December. Peac serves companies that made between R$ 360,000 and R$ 300 million in 2019.
"The program is being able to promote access to credit for small and medium-sized enterprises across the country and helping them to grow again," said Petrônio Cançado, bndes's director of credit and guarantees.
So far, 43 financial agents are able to offer loans, ranging from R$ 5,000 to R$ 10 million. The interest rate in the program is up to 1% per month and has a grace period of 6 to 12 months. The payment term is from one to five years.