Learn now the secret to getting a working capital loan and discover the best banks to apply for business credit. Check it out!
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Working capital is an essential financial resource for maintaining a business's liquidity.
Did you know that having a line of credit available can be an opportunity to avoid business bankruptcy?
Especially in emergencies, as happened during the coronavirus pandemic!
Knowledge is everything, and in the business sector this is no different. In addition to having a good business plan, you need to know about the credit opportunities available to your company.
- What is working capital?
- Which bank releases working capital?
- #Working capital for Santander companies
- #NDES working capital
- #Coperational Capital Itaú
- #Loan for Working Capital Banco do Brasil
- #Credit for Working Capital Cash
- What is the best bank to obtain working capital?
- How to obtain working capital for a micro-enterprise?
- Anticipation of receivables
- Working capital loan
- Special check
- Loan secured by assets
- Corporate secured account
- P2P Lending
- How can I get a working capital loan?
- Good loan options for MEI working capital
- #Giro Bradesco MEI Business
- #Working Capital Loan Banco do Povo
- #Credit for working capital Banco Inter
- #Micrócredito Itaú
- Conclusion
What is working capital?
Before you go out and apply for different types of loans for your company, you first need to have an understanding of what is working capital, since this credit is intended for this purpose. Ok?
This way, the entrepreneur can easily offer installment sales, keep stock up and still pay suppliers, taxes and other costs inherent to the company.
Business credit is an installment loan to meet a company's cash flow needs. In some institutions, the payment term can be extended by up to 4 years.
To obtain it, the client has the option of using guarantees such as financial investments, accounts receivable, among others. In the same way as when requesting a secured account.
Which bank releases working capital?
#Working capital for Santander companies
THE working capital for Santander companies There are two types: traditional working capital and digital working capital. In this last version, the entrepreneur has the flexibility to contract credit in a virtual way.
| Limit Released | Reported at the time of contracting |
| Payment Deadline | 36 months, with the first installment only for 59 days |
| Fees and Costs | Pre or post fixed, informed at the time of contracting |
| Do you accept warranties? | Yes |
#NDES working capital
At first, BNDES – National Bank for Economic and Social Development – is Brazil’s main instrument for financing and investing in our country’s economy.
Furthermore, the payment terms are very advantageous, and can be up to 5 years, with a grace period of up to 2 years for the payment of the first installment. Find out more details about the BNDES working capital in the table below:
| Limit Released | Reported at the time of contracting |
| Payment Deadline | Up to 5 years, with a 2-year grace period. |
| Fees and Costs | Financial Cost + BNDES Fee of 1.29% per year + Financial Agent Fee |
| Do you accept warranties? | Yes |
It is worth remembering that the contracting of credit lines from this development bank is done directly by the accredited financial institutions!
#Coperational Capital Itaú
At Itaú, you can hire working capital for your company online, through the app or through internet banking.
In fact, the payment term is very advantageous and the entrepreneur can pay in installments over up to 4 years, with a grace period of 4 months.
| Limit Released | Reported at the time of contracting |
| Payment Deadline | Up to 4 years, with the first installment for 4 months. |
| Fees and Costs | Provided at the time of hiring |
| Do you accept warranties? | Yes |
#Loan for Working Capital Banco do Brasil
When talking about working capital loans from Banco do Brasil, it means multiple opportunities. The financial institution has several lines of credit to serve both large companies and small business owners.
Among the options, the BB Giro Company deserves special mention for small businesses. Since the credit is intended for businesses with a turnover of up to 1 million reais per year.
| Limit Released | Reported at the time of contracting |
| Payment Deadline | Up to 36 months, with the first installment in 90 days |
| Fees and Costs | Provided at the time of hiring |
| Do you accept warranties? | Yes |
#Credit for Working Capital Cash
Just like Banco do Brasil, Caixa has multiple credit options for working capital. However, in this article I want to address a solution for small businesses affected by the coronavirus crisis: the PRONAMPE Cash Flow.
In summary, the credit is intended for micro-enterprises with gross revenue of up to R$$360,000.00 (in the 2020 fiscal year). And, for small companies with gross revenue of R$$360,000.00 to R$$4,800,000.00.
| Limit Released | Total of up to R$150,000.00 per CNPJ |
| Payment Deadline | Up to 48 months, with a grace period of 11 months |
| Fees and Costs | The annual interest rate corresponds to the Selic rate, plus a % per year at the time of contracting |
| Do you accept warranties? | Not informed |
What is the best bank to obtain working capital?
Surely, you must have heard this: “the voice of the people is the voice of God”, isn’t that true?
Therefore, nothing is fairer than showing consumers’ opinions regarding the working capital loan offered by financial institutions.
According to a research released by the Central Bank, the best bank to get working capital is BTG.
First of all, the credit line is only available to BTG Business customers. But don't worry, because the business account is very advantageous and best of all, there are no fees!
As soon as the entrepreneur opens the account and sends the company documents, the amount of the working capital loan limit becomes available on the platform. Furthermore, the contracting and the entire procedure are done completely online.
In addition, there are other lines available, such as advance credit card sales and advance payments to suppliers. Very practical, isn't it?
All details, such as released limit, payment term, interest rates are informed individually in the application.
How to obtain working capital for a micro-enterprise?
As we have seen, working capital is an extremely important financial resource for keeping the business afloat.
In the midst of all this, we also know that most businesses, especially micro-enterprises, take a certain amount of time to generate profit and have a good cash flow.
Thus, external aid ends up being the great savior of the enterprise. Want to know? How to obtain working capital for micro-enterprises? See the available options below!
Anticipation of receivables
In fact, the anticipation of receivables is a very interesting line of credit for microentrepreneurs with money to receive, such as duplicates, credit card sales, post-dated checks, among others.
Working capital loan
This is the line of credit we are addressing today in this content and It is the most traditional way of obtaining financial resources to inject into the company's cash flow.. Since the amounts released are usually advantageous and the payment terms are also.
Special check
Despite having one of the highest interest rates in Brazil, overdrafts continue to be a way to cover business emergencies as a last resort. This feature usually comes with a current account for legal entities.
Loan secured by assets
Loans secured by assets such as cars and real estate also have very positive results when seeking business resources. This is because the amounts released are high and the interest rates are lower.
Corporate secured account
We have already discussed this type of credit for working capital in Consulta Cred. The guaranteed account – a kind of extra account with a credit limit for sporadic cases – approval is very easy and the resource can be used immediately.
P2P Lending
Initially, P2P Lending – Peer to Peer – is a type of collective lending. In this way, entrepreneurs, investors and entrepreneurs who need credit come together on platforms for this purpose.
How can I get a working capital loan?
The financial health of your business is the first thing to analyze. A very high proportion of companies close down in the first year due to a lack of planning and care with their business finances.
Gather the necessary documents for hiring
Once you have made your planning, the next step have the necessary documents for hiring on hand which are:
- CNPJ;
- Company Articles of Association;
- ID and CPF of partners;
- Balance sheet and income statement for recent years.
In general, these documents are the most requested by banks, however, each institution has a different policy, as each business has a unique profile aimed at specific segments.
Search for available lines of credit
The second important step is to look for the best lines of credit, In this case, the ideal is to look for longer payment terms.. After all, during this time your company will have a better chance of recovering and having a good cash flow again.
But for this to come out perfect, first of all you need to have in your hands a business plan with all the details. Mainly, with all the information about the company's growth projections.
Good loan options for MEI working capital
#Giro Bradesco MEI Business
Giro Empresarial Bradesco MEI is an exclusive product for individual microentrepreneurs – with a business account opened at the financial institution.
One of the advantages and differences is that there is no fee charged when renewing the limit.
| Limit Released | Minimum of R$1000.00 |
| Payment Deadline | Up to 36 months, with a 60-day grace period |
| Fees and Costs | Provided at the time of hiring |
| Do you accept warranties? | Not informed |
#Working Capital Loan Banco do Povo
In advance, the Banco do Povo working capital loan is only available to MEIs and microentrepreneurs in the state of São Paulo.
However, to apply for the loan, the entrepreneur must first undergo training: undertake it quickly.
With the certificate in hand, the MEI can access credit lines from R$$200.00 to R$$21,000.00.
The fees and interest charged vary from 0.35% am to 0.8%, plus another 1% of TSF act.
| Limit Released | Minimum of R$200.00 and maximum of R$21,000.00 |
| Payment Deadline | Up to 36 months, with a 60-day grace period |
| Fees and Costs | Provided at the time of hiring |
| Do you accept warranties? | Not informed |
#Credit for working capital Banco Inter
At first glance, Banco Inter has a complete line to serve MEIs and micro-enterprises. Therefore, To have access to credit, you must have a PJ account opened at the financial institution.
In fact, Banco Inter's working capital credit accepts some specific guarantees to facilitate the release of your credit, such as:
- Credit and debit card receivables;
- Securities with future maturities;
- Pre-formed company contracts;
- Financial applications from Banco Inter.
The credit limit, payment term, interest rates and other details are informed individually to the customer after opening the PJ account.
#Micrócredito Itaú
This Itaú business credit option is currently only available to residents of Greater São Paulo and the Capital.
The positive point is that you don't need to be a bank customer to have access to credit. However, the entrepreneur must have at least 6 months of activity with an active CNPJ.
| Limit Released | Minimum of R$1000.00 |
| Payment Deadline | Up to 36 months, with a 60-day grace period |
| Fees and Costs | Provided at the time of hiring |
| Do you accept warranties? | Not informed |
Conclusion
Good financial planning and access to loan opportunities for working capital are game changers when it comes to developing and expanding a business.
Based on the content presented, we saw that many entrepreneurs believe that if they had access to lines of credit, the business would not have gone bankrupt with the crisis caused by the pandemic.
In fact, we are certain that after learning about the lines of credit mentioned in this content, and the tips on how to obtain credit for working capital, you will know how to correctly apply financial resources to achieve business success.
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