The main credit unions in Goiás will offer special payment or financing conditions to cooperative companies starting this week. Therefore, those that suffer the greatest economic impact from the crisis caused by pandemic of the new coronavirus (Covid-19) in Brazil.
In addition to extending payment terms for financing and loans, depending on each case, the possibility of offering special lines of credit with longer grace periods and payment terms is being studied.
Banco Cooperativo do Brasil (Bancoob) will make up to R$500 million available for these new credit cooperative operations in the country.
The sector predicts that in the next two weeks it will be necessary to offer differentiated conditions to cooperative companies that are among the segments most affected by the restrictive measures imposed by public authorities to prevent further spread of the coronavirus.
“We are preparing to meet a demand that will certainly exist in the coming weeks.
We all support the measures that have been taken by state and federal government authorities, with the aim of safeguarding the population from the coronavirus. Therefore, we know that they will have an economic impact”, says the president.
Renegotiations
“The Central Bank’s guidelines allow for extending maturities without generating an increase in the customer’s risk profile. Although this will result in positive renegotiations by credit unions, which are autonomous in their decisions, with members.
Sicoob Secovicred has decided to renegotiate the debts of members who are having difficulty paying their installments, extending the term and reassessing the rates. Therefore, with a grace period of one month, so that they are better adapted to their new financial capacity”, explains the president of Sicoob Goiás Central, Marcelo Baiocchi.
The president of Central Sicoob Uni, Clidenor Gomes Filho, states that there are two lines of action that the credit union will operate in. As well as extending the payment terms of current loans and financing. Thus, with the possibility of also reducing monthly installments, in addition to new lines of credit with grace periods and longer payment terms.
The president of Central Sicredi Brasil Central, Celso Ronaldo Figueira, states that the market is being monitored to assess what will be the greatest demands from cooperative members for financial support.
Cooperative conventional operations
“We have not yet identified specific demands from segments or companies impacted by the crisis, but they will certainly exist.
We continue to offer our conventional credit operations, but we will also evaluate specific and specific cases that may suffer a greater impact on their activities due to the coronavirus”, he states.
Bancoob has recommended that all central and individual credit cooperatives in the country extend the maturity dates of credit operations in the segments most impacted by the current crisis. However, after careful evaluation of each case, new deadlines will be set in accordance with the payment capacity of the cooperative members.
Febraban has recommended a grace period of up to 60 days for loan and financing payments, provided that the borrower has not previously presented financial problems or demonstrated difficulties in honoring payments under the new agreed conditions.
Bancoob also recommended that cooperatives evaluate the possibility of offering credit lines with special terms and rates.