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» Purpose
The Guarantee Fund for the Promotion of Competitiveness - FGCP was established by Law 9,531 of 12.10.97 and came in force on 07/06/99, through Decree
nº. 3,113. It is a fund that was created with resources of the National Treasury and managed by the BNDES. Its purpose is to guarantee part of the credit risk incurred by financial institutions in operations with micro and small
companies, and exporting medium-sized companies that make use of the BNDES's financing lines, specifically
Automatic BNDES, FINAME, FINEM and
Export Support.
» Clients that may be frameworked for use
Micro Enterprises: gross annual* or annualized operating revenues of up to R$ 1,200 thousand (one million two hundred thousand Reais).
Small
Enterprises: gross annual* or annualized operating revenues greater than R$ 1,200 thousand (one million two hundred thousand Reais) and less than or equal to R$ 10,500 thousand (ten million five hundred thousand Reais).
Medium Enterprises: gross annual* or annualized operating revenues greater than R$ 10, 500 thousand (ten million five hundred thousand Reais) and less than or equal to R$ 60 million (sixty million
Reais), that:
- have performed exports in the period of the 36 (thirty six) months prior to the presentation of the financing request; or
- that are manufacturers of inputs that are directly used in the production, assembly or packaging processes of goods aimed for export, having supplied exporting companies in the 36 (thirty-six) months prior to the presentation of the financing
request.
(*) Gross annual operating revenues are considered to be the revenues incurred during the calendar year with the sale of goods and services in one's own operations, the price of offered services and the result of others' operations, not including cancelled sales and unconditional granted discounts.
In the case of start of activities in the same calendar year, the above mentioned limits will be proportional to the number of months in which the legal entity or individual firm exercised activities, not considering fractions of
months.
In the case of companies that are under implementation, the annual sales forecast used in the endeavor will be considered, taking into account the total installed capacity. Medium-sized enterprises that are in implementation may not be frameworked into the FGPC.
When the company is controlled by another company or belongs to an
economic group, the size classification will take the consolidated gross revenues into consideration.
» Operations that are eligible for frameworking
The risk guarantee by the FGPC may be granted to operations whose risk is classified as level "AA", "A", "B" or "C", according to Resolution no. 2,682, from 12/21/1999, of the Brazilian Central Bank.
» Guarantee Commission
Commission to be paid to the FGPC by the Beneficiary of the guarantee, corresponding to the percentage obtained by multiplication of the 0.15 (fifteen hundredths) factor by number of months of the operation's total period, incident on a share of the guarantee's credit. The calculated value will be added to the debt's principal, at the time of the first release of resources, being charged at the same required for the granted credit.
» Collaterals
Every financing operation in the ambit of the Automatic BNDES and
FINAME lines with a risk guarantee from the
FGPC will require a collateral guarantee from the business's controlling partner(s), for the total amount of the debt. In addition, the following should be
observed:
in operations, performed with medium enterprises, with coverage for any value from the FGPC, the constitution of real guarantees will be, at least, of a value that is equal to that of the
financing;
in operations, performed with micro and small enterprises, with coverage from the FGPC that is greater than R$ 500 thousand (five hundred thousand Reais), the constitution of real guarantees will be, at least, of a value that is equal to that of the
financing;
in operations, performed with micro and small enterprises, with coverage from the FGPC up to R$ 500 thousand (five hundred thousand Reais), will not require the constitution of real guarantees.
The constitution of a pledge with the credit rights of financial investments as a guarantee for the operation will not be
allowed.
In the operations of Export Support the demand and real guarantee may be discarded in the financings up to US$ 500 thousand (five hundred thousand).
The decision pertaining to guarantees, including the use of the Guarantee Fund - FGPC, belongs to the financial institution when it approves the operation.
»
FGPC's Maximum Risk in the Financed Value
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| Company's Size and Region of Location |
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Maximum
Risk
Incurred by the FGPC |
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| Micro and Small Enterprises in any region of the country, in the
FINAME, Automatic
BNDES, FINEM
and
Pre-Shipment
operations. |
80% |
| Medium Exporting or Input Manufacturing Enterprises, located in the regions covered by the Regional
Dynamism Program, in the
FINAME, Automatic
BNDES, FINEM
and
Pre-Shipment
operations. |
80% |
| Medium Exporting or Input Manufacturing Enterprises, located in the regions of the Country
not covered by the Regional Dynamism
Program, in the
FINAME, Automatic
BNDES, FINEM
and
Pre-Shipment
operations. |
70% |
| Export financing operations in
Special Pre-Shipment, executed with Micro and Small Enterprises in any region of the Country. |
80% |
| Export financing operations in
Special Pre-Shipment
executed with Medium Enterprises in any region of the Country. |
70% |
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Obs: Only companies that have not presented any accumulated delays in payments to the financial institution for more than 90 days in the last 12 months prior to the date of the operation's contract may use the FGPC. The support of the FGPC for exports does not apply to companies in the process of
implementation.
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 The
BNDES does not accredit and does not indicate
any consultants, private individuals or legal
entities as intermediaries to facilitate,
expedite or approve operations with this Bank,
nor with accredited financial institutions as
redistributors of its resources. |
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