Find out what can cause your Caixa Tem loan to be rejected and how to avoid making a mistake.
Many Brazilians are rejected when applying for a Caixa Tem loan, but they still don't realize that there are some very specific reasons why something like this happens. You need to know why this is happening, especially now that Caixa Econômica Federal has launched the Digital Microcredit Simplification Program for Entrepreneurs
It is a line of credit that offers individuals up to one thousand reais and up to R$ 3,000 for Individual Microentrepreneurs (MEI).
The action, which aims to provide resources for those looking to expand or improve their businesses, created opportunities to stimulate popular entrepreneurship and also focuses on formalizing small businesses.
What has happened is that many Brazilians are reporting that their Caixa Tem loan application has been rejected, frustrating all plans made so far. Although Caixa offered a great opportunity at the time of application, Caixa explained that there are reasons that lead to the loan being rejected. See below.
1- Incorrect data entered when filling out the data
To release a loan via Digital SIM, the bank evaluates all the information sent when filling out the Caixa Tem registration. In this situation, by entering false or incorrect information, you greatly increase the chances of the request being denied.
If this happens, there is an opportunity for the person to update the registration and get the error along and it is time to correct it, but the deadline – in this case – for an opportunity for re-approval is 10 days.
2- Have debts above R$ 3,000
Another situation in which the loan may be denied to Caixa Tem is when the citizen has accounts above R$ 3,000 until December 31st. December 2022, except for home equity financing. It is also worth noting that this is a rule imposed by MTP Regulation No. 660.
3- The applicant is not included in the Digital SIM proposals
As we have already mentioned, Caixa Tem microcredit is aimed at entrepreneurship and the formalization of small businesses, therefore, only people with this purpose should apply. If your situation is different from this suggestion, you probably will not have approved the amount for use.
Speaking of people who do not meet the requirements, it is worth mentioning that Caixa Tem resources cannot be used to pay personal loan bills, so if you want to take out a loan for this purpose you should opt for the traditional Caixa Tem loan.
