“Develop the Doce River” will support companies with capacity for expansion and economic recovery in Minas Gerais and Espirito Santo
In order to foster the economic and social development of the municipalities on the banks of the Doce River, the Renova Foundation launched, on Tuesday morning, October 3, in Mariana (MG), “Develop the Doce River”; a fund for financing working capital with a total of R$ 40 million. The initiative managed by the Minas Gerais Development Bank (BDMG) and the Espirito Santo Development Bank (Bandes) offers special payment terms and interest rates.
The project will be presented to entrepreneurs from the state of Espirito Santo on October 16, at 2:00 pm, in the Chamber of Shopkeepers (CDL) of Linhares (ES). This financing with special conditions aims to offer support to companies with capacity for expansion and economic recovery.
According to Paulo Rocha, leader of the economic development actions of the Renova Foundation, the intention of the fund is to encourage local businesses. “The proposal stimulates the generation of formal jobs and the growth of companies in these municipalities and surroundings,” he says.
In Minas, BDMG estimates that the average request will be for R$ 38 thousand, which would result in a service to 800 companies with an initial contribution of R$ 30 million. During the total period of the fund – ten years – the number of operations may reach 3,400 for a movement of funds of approximately R $ 130 million in nominal values.
In Espirito Santo, the municipalities of Linhares, Colatina, Marilândia and Baixo Guandu gather approximately nine thousand companies that meet the requirements to request financing. Bandes expects the average financing to be R$ 20 thousand. With an initial contribution of R$ 10 million, it will be possible to serve about 500 companies.
In both cases, the return of the funds resulting from the payments of the installments will finance new loans.
In Minas, the applications can be completed through the BDMG website or through a correspondent bank. On the site, the interested party types in the information requested by the bank and will receive the calculated credit limit within the hour. After this procedure, if the credit limit is approved, the company should print the financing agreement and send the requested documentation to BDMG. If the documentation is all correct, the loan will be released within 3 business days.
In Espirito Santo, the applications should be completed with consultants of the bank agency located in the four municipalities. After prospection, the next step is registration. If the provided documentation is correct, the process then goes through review and approval. Upon completion, the loan will be released within 15 days. More information on the Bandes website.