Business owners who have incurred debt due to the Covid-19 pandemic can apply for an interest-free loan to pay off their debts. The initiative, called Nome Limpo, is an initiative of the Government of the State of São Paulo in partnership with Banco do Povo.
According to the Ministry of Economic Development, around R$ 100 million in equity credits were made available. Therefore, the main objective is to allow business people who have negative attitudes towards the main protection authorities to regulate their situation.
In this way, the initiative allows company directors to take out loans between R$ 100 and R$ 5,000. The deadline for starting payment is 180 days and 24 months for full payment of the debt.
Who can participate in the program?
To participate in the initiative and request a loan from Nome Limpo, the interested party must act as an Individual Microentrepreneur (MEI), Microcompany, Limited Company (known as LTDA) and Individual Limited Liability Company (Eireli)
The entrepreneur must also have a company in the state of São Paulo and have completed the Entrepreneurial Qualification Course offered by the Paulista Development Agency (Ade Sampa), the Brazilian Micro and Small Business Support Service (Sebrae) or Aliança Empreendedora. Additionally, the following is required:
Debts were closed as of March 2020;
Accept the verification visit carried out by Ade Sampa;
Provide recovery plan;
Show the receipt issued to credit protection agencies to pay the debt.
How to apply for loans for entrepreneurs?
The businessman, in debt during the pandemic, interested in requesting a loan of up to R$ 5,000.00 must contact a unit of Banco do Povo in the municipality where he resides, more precisely where his CNPJ is registered.
Banco do Povo is present throughout the state of SP and operates its decentralized microcredit policy in more than 500 municipalities. It is worth remembering that Caixa Econômica Federal also offers loans of up to R$ 3,000 for MEIs.
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