EMUNDE da Bahia para o mundo! Microcredit - Important tool within your reach

Matéria publicada pelo EMUNDE traduzida para o Inglês. Agora é pra valer, agora é para o mundo!

Microcredit is, in its origin, a tool to combat poverty and financial exclusion. On being applied to so - called undeveloped companies and with greater regulation, it has become an instrument to fight against social and financial exclusion.

In recent years, particularly in Europe, and due to rising

unemployment, microcredit has been perceived by organizations operating it as a

means of combating unemployment.

This evolution has led to micro-credit adapting itself to a new reality and new public - young graduates looking for their first job, needy unemployed and those interested in acquiring new skills or even the means to facilitate their job search.

Microcredit, in general, is awarded to individuals and formal and informal micro entrepreneurs, who have limited access to the traditional financial system, mainly because they have not the means to prove their income.

For individuals or low-income people, the limit is R$ 2000. For anyone who belongs to the PNMPO, the limit is R$ 15,000.

Individuals who intend to open their own business may also request microcredit of up to R$ 5000. The amortization period goes up to 48 months. Microcredit can be obtained from development agencies, credit unions, Credit Societies Micro entrepreneur (SCM) and banks, especially federal ones