Fundação Renova

Develop the Doce River Fund will finance R$ 10 million for entrepreneurs from Espirito Santo

Published in: 10/20/2017

Local Economy

Managed by the Espirito Santo Development Bank (Bandes) and the Minas Gerais Development Bank (BDMG), the fund offers special payment terms and interest rates

To stimulate the economic and social development of the municipalities along the Doce River, the Renova Foundation launched the “Develop the Doce River”, a fund for financing working capital totaling R$40 million. The initiative, which had already been presented to entrepreneurs from Minas Gerais, was launched in Espirito Santo on October 16. Managed by the Espirito Santo Development Bank (Bandes) and the Minas Gerais Development Bank (BDMG), the fund offers special payment terms and interest rates.

The municipalities of Linhares, Colatina, Marilandia and Baixo Guandu will receive R $ 10 million to finance working capital.

The municipalities of Linhares, Colatina, Marilandia and Baixo Guandu will receive R $ 10 million to finance working capital. | Photo: Released

In Espirito Santo, in the municipalities of Linhares, Colatina, Marilandia and Baixo Guandu, together there are approximately nine thousand companies that meet the requirements to request financing. Bandes expects the average financing amount to be R$ 20 thousand. With an initial contribution of R$ 10 million, it will be possible to serve about 500 companies. The applications should occur with consultants of the bank, available in the four municipalities. After prospection, the next step is registration.  If the provided documentation is correct, the next steps of the process are review and approval. Upon completion, the loan will be released within 15 days. More information on the Bandes website.

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