In the midst of the uncertain and the unknown, everyone needs to do their part to contain the advances of the new coronavirus pandemic. Many preventative measures have been adopted and modified as indicated by studies of possible projected scenarios. Social isolation is one of those measures. For this reason, many companies have been forced or advised to interrupt or temporarily reduce their operations.
However, fixed costs, which are part of the companies’ financial obligations, continue. The scenario is that of many companies that have problems in their cash flows, and with difficulty to fulfill their financial commitments. The post-pandemic situation will not be the same as before everything arrived in the country, that is for certain. However, in order to overcome the crisis in the best possible way, it is necessary, now, to develop and execute good financial management.
To help companies remain competitive even in the midst of the crisis, from small to large businesses, Marcopolo prepared this article containing information that can help in the financial management of companies and, consequently, in overcoming the crisis.
Banco Nacional de Desenvolvimento Econômico e Social (BNDES) is adopting emergency socioeconomic measures that aim to help the country face the economic effects and social impacts of the coronavirus pandemic. These measures have to do with the evaluation and approval of the emergency credit limit.
The emergency limit is nothing more than a service offered by banks to approve purchases with limits higher than that available on credit cards. By adapting this concept to the scenario brought about by covid-19, therefore, BNDES is offering people and companies credit approval and emergency assistance with some facilities, so that they can fulfill their financial commitments in the midst of the crisis.
Check out what these measures are, how they can help and where to get them.
– Suspending payments
One of the measures is the possibility of granting temporary suspension for a period of up to six months of amortization of loans contracted with BNDES, in direct and indirect modalities to companies affected by the crisis – a measure known in the market as standstill.
In direct and mixed operations, the suspension request related to direct sub-credits must be sent by the client to BNDES through the Portal.
For indirect non-automatic operations and indirect sub-credits for mixed operations, the suspension must be negotiated between the client and the financial agent, who, if they agree, must forward the suspension request to BNDES.
Finally, in automatic indirect operations, the interruption must also be negotiated with the financial agent that granted the financing. In this case, the authorization of suspending payments is at the discretion of the financial agent.
– Working capital
Another measure, aimed at micro, small and medium-sized companies and individual entrepreneurs, is the expansion of the working capital offer of this credit line for businesses or economic groups (when applicable) with annual sales of up to BRL 300 million until September 30, 2020, with a financing limit of up to BRL 70 million per year.
The objective is to offer fast and flexible credit to companies of all sizes, cushioning the financial impacts of the pandemic on entrepreneurs and contributing to maintaining jobs in Brazil. At least BRL 5 billion will be available to support them.
To apply for this financing, contact an accredited BNDES financial agent.
– Emergency Job Support Program
Yet another measure refers to emergency credit for companies with annual revenues between BRL 360 thousand and BRL 10 million, exclusively to pay employees´ payrolls.
BRL 40 billion (BRL 20 billion per month) will be made available for the 2-month payroll financing for small and medium-sized companies, of which BRL 34 billion will come from the National Treasury and BRL 6 billion from resources from retail banks.
However, the company taking the financing will not be able to fire the employees with financed salaries for two months. The fixed interest rate is 3.75% per year (exempt from remuneration to BNDES and banks). The term is 30 months for payment, with a six-month grace period for interest charges.
Count on Marcopolo´s group companies
Banco Moneo is a BNDES accredited financial agent, and is available to help companies in this time of crisis. It is possible to count on the bank for guidance and solutions through its service channel. Access http://www.bancomoneo.com.br/
It is essential to emphasize that, even having the opportunity to take advantage of the emergency measures offered by BNDES and Banco Moneo, it is still necessary to know how to manage company finances. Especially now, in the pandemic scenario, but also outside of it.
This is a challenging moment, but it is important to emphasize that nobody is alone in this fight against the virus, against the crisis and in favor of the economy. Marcopolo and all the companies in the group are available to help overcome this.