If you are a rural producer, know that Rural Credit It is the ideal line of credit to help you evolve, whether through investment in the harvest, equipment or any other needs.
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Several banks work with this modality, including Caixa, Bradesco and Itaú, so you can opt for the best proposal available for your plans.
In today’s content, we will understand how this type of credit works, as well as learn about some of the proposals available on the market. Continue reading to check it out!
What is Rural Credit?
Access to credit is important for most companies, especially those that want to make investments to promote business development.
However, not all rural producers have an open company, so negotiations are made using their CPF. In this case, how can you obtain a specific line of credit for your business?
If you have this doubt, know that the Central Bank of Brazil has already thought of a solution for this, and it is Rural Credit, a line of credit aimed at financial support for rural producers.
The idea is that with Rural Credit, rural producers and cooperatives can invest in crops, equipment and properties, in addition to favoring the commercialization of production.
That said, it is important to say that this line of credit is offered by conventional banks, and each of them stipulates rules and carries out its own analysis for release.
What types of credit are available in this line?
When we talk about Rural Credit, we must understand that this concept is broad, since it refers to a line of credit, that is, a type of loan.
In this line, we have specific purposes for using the amount, and in general, the bank release takes this into consideration. Learn about the main types of credit in this line:
- Investment: aimed at the acquisition of goods that can be used in various productions, such as agricultural machinery.
- Marketing: credit granted with the aim of facilitating access by rural producers and cooperatives to opportunities for marketing the resources produced.
- Industrialization: credit for investment in the industrialization of rural products, intended for cooperatives or producers who own rural properties.
- Costing: destined line to cover regular and common expenses in the production process, from planting to harvesting.
It is important to know the credit categories, since some banks require the presentation of a project and projected use of the funds for release. This way, you can prepare in advance.
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Who can request the service?
At this point you already understand what Rural Credit is and what the main purpose of this line of credit is.
This raises a question: who can apply for this line of credit? Is every rural producer eligible for credit?
See below who can join:
- Rural producers, whether individuals or legal entities;
- Rural producer cooperatives;
- Agents involved in research and other actions related to agriculture;
- Production flow services (distribution and marketing of agricultural products).
Therefore, it is clear that this line of credit is not limited to rural producers, as even companies and researchers can apply for it.
However, as we have already seen, this loan is granted by traditional banks, therefore, the granting of amounts occurs upon obtaining approval in the institution's credit analysis.
What do I need to present to make the request to the bank?
Rural credit is a specific line, so to release it the bank may request specific documentation and procedures.
This varies depending on the institution, so it is worth checking in advance. However, to help you, we have listed below some of the most common requirements for this modality:
- Presentation of project, plan or budget for use of funds;
- Proof of suitability of the applicant;
- Checking the schedule for receiving amounts and payment deadline to the bank;
- Acceptance of financial monitoring by the lending bank for the loan period;
- Presentation of guarantees that the project does not violate agroecological rules.
It is important to note that these requirements may vary depending on the bank, but it is worth being prepared to present the documentation, if necessary.
Which banks offer Rural Credit?
Rural Credit is a line of credit recognized by the Central Bank, and some traditional banks are authorized to grant it. These are:
- Federal Savings Bank (Agro CAIXA);
- Bank of Brazil (Rural credit Bank of Brazil);
- Bradesco (Rural Production Credit);
- Itau (Rural Credit | Itaú Companies);
- Banpará (Banpará | Rural Credit).
It is important to say that all banks must comply with the Central Bank's determinations to grant this type of credit, but this does not prevent them from creating their own rules for granting credit and stipulating specific fees.
Therefore, before accepting a proposal, we recommend that you access the institution's website and check details related to the fees applied and payment conditions.
This way, it will be possible to find the best alternative that will help you develop your business in the Rural Production sector.
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