57 2016 Rates and terms Other BNDES changes that have entered into force in 2016 Working capital in Rates for working capital finance - through the BNDES Support Program for Jobs and Income Generation (BNDES Progeren) are now 11.67% a year for micro and small enterprises (with operating revenue up to R$ 16 million a year). For medium-sized companies (R$ 16 million to R$ 90 million a year) the rate is 14.71% a year. “Added to these costs will be the remuneration for the financial agent, freely negotiated between the parties. The Progeren budget will be up to R$ 5 billion. These operations can be supported by BNDES Investment Guarantee Fund (FGI), which makes it easier for agents to provide funding, “ says Santos da Cruz. Exports The Exim Pre-shipment rates have been reduced and the BNDES levels of participation in the financing have been expanded. “The lower costs are for what are known as capital goods with high externality - that is, with an important value chain in the country and a strong effort in innovation. For such equipment (including agricultural machinery and highway implements, energy equipment, machine tools, etc.), the rate charged by BNDES will be 11.62% a year, plus a spread to be negotiated between the end client and the financial agent, with coverage up to 70% of the value to be exported,” says Santos da Cruz. “The rate for other manufactured goods, including other capital goods, aircraft, ships, trucks, buses, auto parts and engines is 13.64% a year, with 50% coverage,” she says. Guarantees with BNDES FGI Small, medium and micro enterprises, micro entrepreneurs and independent truck drivers can use the FGI in their financing operations, with up to 80% financing cover. The cost will be between 0.8% and 4.9% of the finance, depending on the term and guaranteed percentage signed up for. Capital goods “BK Efficiency” from Finale has had its interest rate reduced from 10% a year to 9%. In addition to reduced costs, the list of machinery and equipment that can be financed has been expanded. For capital goods, including agricultural, the cost will be 9.9% a year, with 80% participation by BNDES. For the purchase of buses and trucks and the production of machinery and equipment, the cost of BNDES financing will be 11.8%. There will also be remuneration for the financial agent, negotiated freely between the on-lending bank and the end client, and the financial intermediation rate of 0.1% (MSMEs) and 0.5% (large companies). BNDES card The amortization period for the BNDES Card is now 60 months (previously it was 48 months).
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