Today we are going to talk about Bolsa Família microcredit.
The national program Family Allowance, was created in 2003, with the aim of helping beneficiaries overcome poverty
It is estimated that the program will help more than 13 million families.
As a rule, for families that have more than R$ 89.01, up to R$ 178.00 per person per month, it is only possible if they have children or teenagers from 0 to 17 years old.
After all, how does the Bolsa Família credit (or loan) really work?
It is important to say that in addition to income assistance, Bolsa beneficiaries can count on a special line of credit, which has been called Bolsa Família microcredit.
Understand how this new modality works in the program:
The idea of the program, however, is not to make the user take out a loan and buy a good. There are two main objectives:
1- Creating or developing a small business: Whether it is to open a salon, a store, a small bar or restaurant, the objective here is to create a business that can consequently generate income for this family.
2- Improve housing or education situation: Well, in this case there are some interpretations, but generally speaking, the credit is for construction or home improvements. For education, the credit is not so simple to obtain.
Microcredit: who can receive it?
- Beneficiary families with a monthly income per person of less than R$170.00.
- Be registered in projects of the Ministry of Social Development, Fight Against Hunger, among others.
- If the family has children, they must all be enrolled and studying.
A priori, we need to say that it is necessary to have an income in addition to the scholarship, that is, if someone has the scholarship as their exclusive income, the person will not be able to get the credit.
There also needs to be a guarantor, someone who can provide security for the procedure, and finally, the program inspector needs to visit the home of the person seeking credit.
To complete the process, you must go to a Caixa Econômica Federal branch and follow the steps below.
- Schedule a visit from the cashier who will come to your home (the guarantor must be present).
- Wait an average of 8 days after the Caixa visit, this is the credit analysis time.
- If approved, now you just have to wait for the money to be released by Caixa.
- Once the balance is released, it will be available for use.
Interest rates, see how it works in the program:
Unfortunately, we cannot tell you the exact rates, as the program has some variables, including:
The loan amount; number of installments; and family income.
According to government data, the maximum amount in 2019 was 15 thousand reais, however, the vast majority of people managed to get around 4 thousand reais.
Without a doubt, this microcredit is very worthwhile.
The goal is to open a small business, the microcredit program is very good, if the goal is another, the advice is to look for a credit for negative people or some personal credit.