The Senate approved this Wednesday (13) Provisional Measure (MP) 1,107/2022, which creates the Digital Microcredit Simplification Program for Entrepreneurs (SIM Digital). 

The objective is to promote access to credit and expand guarantee mechanisms for granting productive microcredit to entrepreneurs. As the Provisional Measure underwent changes in Congress to become a Converting Act (PLV) project, it was forwarded to be sanctioned by the President.

The interest rates provided for in the Digital SIM will be reduced. The credit lines are intended for individuals who provide productive activities or services, urban or rural, individual or collective, or individual micro-entrepreneurs (MEIs). 

The text encourages individual micro-entrepreneurs to access loans with annual turnover of up to R$ 81 thousand. It also creates a line of credit for micro-entrepreneurs with a turnover of up to R$ 360 thousand and small entrepreneurs with a turnover between R$ 360 thousand and R$ 4.8 million. Furthermore, the program aims to promote the formalization and inclusion of low-income microentrepreneurs in social security.

According to the project, any bank can lend resources with the guarantee of the Microfinance Guarantee Fund (FGM), established by Caixa Econômica Federal (CEF). To reduce the risk of these operations, the deputy approved the use of resources from the Settlement Fund (FGTS) as a source of guarantees. The government expects the Digital SIM to benefit 4.5 million entrepreneurs. 

The legislator made changes to the text. This includes standardizing the deadline for the domestic employer to collect labor costs, in this case the twentieth day of the month. Congress also established the minimum percentages for the allocation of FGTS for investments in popular housing and for credit operations intended for philanthropic hospitals and non-profit organizations that serve people with disabilities. With information from Agência Brasil. 

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