This type of loan is in partnership with Caixa Econômica Federal, through the Caixa Tem application. It came into force on March 28th. This new line of fast microcredit is aimed at individual microentrepreneurs (MEIs) and individual entrepreneurs.

The group benefiting from SIM DIGITAL also includes people with CPF restrictions due to denial and beneficiaries of income transfer programs such as Auxílio Brasil. 

All modalities are aimed at entrepreneurs.

SIM DIGITAL offers values between 300 reais and 1 thousand reais, with monthly interest rates of 1.95%, for individuals.

Of the 602,000 people who used the Digital SIM, 499,000 were negative (with debt registered with credit protection bodies), representing approximately 83 of the contracting parties. 

There is a difference between the services, although both operations are part of the banks' microcredit services: Caixa Tem credit, launched last September, is aimed at non-negative customers and is financed by the institution SIM Digital, launched in April, is supported by the Microfinance Guarantee Fund (FGM) secured and received an investment of R$ 3 billion. 

According to Caixa president Pedro Guimarães, the average amount agreed among those with credit restrictions was R$ 778.31 in the first 20 days of the program. In the same period, around 102 thousand candidates without a restricted name registered an average ticket of R$ 735.50. 

The Digital Microcredit Simplification Program for Entrepreneurs (SIM DIGITAL) was initiated as one of the initiatives of the federal government's income and opportunity program and consists of two operations: 

The terms of the contract for the digital SIM card were established by Order No. 660 of March 28, 2022 from the Ministry of Labor. 

These include that the borrower must not have debt exceeding R$ 3,000 as of January 31, 2022. Unused mortgages and bank credit limits are not included in this limit. 

The individual must be interested in being a self-employed entrepreneur or want to get involved, even informally. The purpose of the loan is questioned. 

For MEIs: They must have at least 12 months of employment/constitution to apply for the loan and present proof of residence and personal and business documents. 

Auxílio Brasil Beneficiaries: You can also request the loan, as long as, according to Caixa, your registration in the Caixa Tem application is regularly updated. However, it is worth noting that even without a formal contract, a declaration of occupation and income is required, as it is a type of loan for entrepreneurs. After the credit has been analyzed, the loan can be requested. 

The DIGITAL SIM will be administered by the Caixas Microfinance Guarantee Fund (FGM) and will receive an investment of R$ 3 billion from the Severance Indemnity Fund (FGTS). 

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