Microcredit is financing aimed at small entrepreneurs, is characterized by being available at a relatively low value with lower interest rates.
This credit option can be realized for both formal and informal entrepreneurs, and even for those who are negative, that is, with the name dirty.
Why is microcredit attractive?
It is a simple, fast and no-bureaucratic loan that aims to encourage small businesses, that is, if you, for example, make cakes in your home and sell in the neighborhood, but a company is setting up near your place of work and you want to expand, you can achieve through microcredit.
Interest rates are very attractive, with the lowest rate among the most well-known banking products. This is because the government stipulates that interest can not exceed 4% per month as a way to encourage small businesses.
In addition to the benefits mentioned, the microcredit also has an agent who will visit your business and get to know your work better, your needs and can guide you to acquire the credit.
Usually, this agent will accompany you during all stages of the loan and will provide a consultancy for your venture until the end of the loan.
Who can get microcredit?
This option is available to every microentrepreneur, with billing up to R $ 200 thousand, making it clear that it is the value of the billing, not the profit, that is, it is the amount that you collect from sales or service without deducting costs.
And money must necessarily be applied in the business, be it as an investment or for working capital.
The request for credit can be made individually or in a group, with payments together.
In the group loan, it is not necessary to prove income, because the guarantee will be through a solidarity group when done in this way, the loan can be made between 2 to 5 entrepreneurs, being in the name of all and the responsibility of the payment is for all participants.
For those who are negative, it will be more difficult to get the microcredit, but one of the simplest forms is asking for group credit, as was mentioned earlier.
Rates and Values
We have already covered the benefits of microcredit, but the doubts arise: what value can I get? What would be the rate? And how would it compare to other loans?
As this is a type of small business focused loan, the amount is not high and can be from $ 100 up to $ 15 thousand. The term of payment is also not long, it varies from 4 to 24 months.
In addition, the credit opening rate will be no more than 3% of the amount awarded, but what is the rate of opening credit? It is a fee that financial institutions charge to assemble, analyze and approve the customer’s registration.
And the most attractive are interest rates, which can be as much as 4% a month, being relatively low, as the personal loan has an average of 7% a month and the overdraft is on average 12% a month.
Let’s exemplify with a real simulation, so you can see how microcredit is more advantageous than a personal loan.
For example, Caixa Econômica Federal has interest of 3.3% per month in microcredit, while for personal loans, interest is 4.92% per month.
That is, if you use $ 2,000 in microcredit and the same amount in personal loan, at the end of the year will be paid in the personal loan $ 241.08 more than microcredit. And with that amount you paid the most, you could have used it on other investments in your business.
Banks offering microcredit
It is not all the banks that offer this type of credit, because it is not obligatory and not very profitable, but we separate some options for you:The amounts are at least R $ 500 and a maximum of R $ 3 thousand, but this is only for the first request, from the second your business will have more credibility and the bank will know you better, so the maximum amount could be R $ 15 thousand.
The payment term can be from 4 to 12 months.
You can find values of a minimum of R $ 300 and a maximum of R $ 15 thousand, with a payment term of 4 to 24 months and with an interest rate of 3.30% per month.
The amounts are minimum R $ 400 and maximum R $ 14,200, the initial rate is 3.99% per month, but this for the first request, for the others the rate tends to decrease and the payment term is up to 12 months.
At least R $ 500 and maximum R $ 15 thousand, with a repayment term of 4 to 24 months and interest rate of 2.90% per month
These are just some of the banks that offer, but microcredit can be carried out online too, check out our suggestions:
The creditors can realize the loan of two forms, with the guarantee of a property or of a vehicle and the values are different for each option:
Property as guarantee
The amount will be from R $ 30 thousand, with interest of 1.37% per month and payment term of 10 to 20 years;
Vehicle as collateral
The amount will be from R $ 2 thousand, with interest of 2.2% per month and payment term of 1 to 4 years.
How to perform
To apply for your loan you will need to have the RG, CPF, proof of residence and proof of CNPJ, but as we have already said that this is a modality for self-employed and informal workers, proof of CNPJ is not mandatory.
No proof of income is required, but a guarantee presentation is required, which may be a property or a guarantor. Another option we mentioned earlier is the solidarity group.
Can I renew Microcredit?
Yes, you can renew the microcredit, ie make another request and the advantage is that from the second request, banks generally offer lower interest rates and the limit of the amount that will be borrowed may be higher. That is why, the bank will already know more about your business and you, generating more confidence.
It can also be removed before the end, to do this, just go to your microcredit agent and ask him to generate a single ticket, with the value of the remaining installments paying interest.