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How does the individual microentrepreneur loan work?

One of the most common lending options for this category is microcredit. It contains smaller values ​​- usually up to 20 thousand dollars – and has its simplified release. The cost value of transactions is also low which makes life even easier for MEIs. makes available on its page a list of agents released to grant the credit in question.

Microentrepreneur Loan

Microentrepreneur Loan

For this form of loan it is usually not necessary to provide income. The guarantee will occur through property, guarantor or solidarity group – people who are responsible for the debt. It should be noted that approval also depends on the entrepreneur not having credit restrictions and unpaid debts. However, assisted lending may be required.

Understand assisted grant better

Understand assisted grant better

This is a case where the lending institution sends agents to the microentrepreneur’s workplace. During the visit, they assess the condition of the venture and the need for a loan. In addition, they deal with the payment terms. What differs the modality from other forms of concession is that the relationship does not end in this evaluation period.

What will happen from then on is that credit officers will follow the company, not only to record their development, but also to guide when needed. It is important to remember that oriented microcredit should be used to finance working capital and fixed productive investments, such as the purchase of equipment and inputs.

What are the advantages of seeking special credit for MEI?

What are the advantages of seeking special credit for MEI?

The main advantage of the individual microenterprise loan is the interest rate. And this is because institutions offer much lower rates to registered entrepreneurs in this category. On average interest rates tend to be between 2% and 4%. But remember that to get good rates you will have to prove the destination of the money that will be granted in the credit.

Know the requirements to apply for your loan

In addition to identification documents (CPF, RG, proof of residence), the Individual Microentrepreneur Certificate of Condition is required. An investment project may also be required, as well as proof of income. The latter, however, is not usually common for microcredit.

Finally, we remind you that the loan for individual microentrepreneurs can be obtained from various institutions and operating agents. We also reiterate that makes available the list of all agents released to pass credit to the MEIs. Want to know more about this form of loan? Visit our page and contact us for more information!