» Purpose

Finance the acquisition of agricultural tractors and related accessories, harvesters and equipment for coffee preparation, drying and processing.

The facilities are performed by accredited financial institutions and only the equipment included in the Computerized Supplier Registration (CFI – Cadastro de Fabricantes Informatizado) and registered in the list available as “Agricultural”. 


» Clients

Rural Producers (natural persons or legal entities) and their cooperatives.

In the financing of equipment for coffee preparing, drying and processing, the Producers must have annual gross income lower than R$ 60 thousand.

The Rural Producers, which are included as beneficiaries of the PROGER RURAL, are beneficiaries of MODERFROTA PROGER.

According to paragraph “a”, item 1, Section 1, of Chapter 8 of Rural Loan Manual (MCR – Manual de Crédito Rural), the rural owners, settlers, leaseholders or partners are included as beneficiaries of PROGER RURAL that: 

I - Do not hold, at any title, including under leasing, the land area larger than 15 modules;
II - have, at least 80% of their income arising out of farming or vegetable extraction activities; and
III - have annual gross income up to R$250 thousand.


» Financeable Items

New equipment: tractors and related implements, harvesting machines and coffee preparation, drying and processing equipment; and 

Used equipment: tractors and harvesting machines, with or without cutting platform; truck mounted or pull type self-propelled sprayers, fitted with tanks with capacity over 2 thousand liters and 18 meter or longer bars; planting machines with over 9 lines; and sowing machines with over 15 lines, under the following conditions:
- with maximum age: 8 years, for tractors; 10 years, for harvesting machines; and 5 years, for sprayers, planting machines and sowing machines;
- revised, with warranty certificate issued by an Authorized Retailer; 
- purchased from Authorized Distributor registered in BNDES; and 
- only for Final Beneficiaries eligible under PROGER RURAL.



» Interest Rate

7.5% per year, for Final Beneficiaries that are included in PROGER RURAL.

9.5% per year for the other Beneficiaries.


» Share Level

Up to 100%, for Final Beneficiaries that are included in PROGER RURAL.

Up to 90% for the other Beneficiaries.


» Financing limit

It is allowed the granting of more than one financing to the same Client in this Program, within the period from 01.07.2008 to 30.06.2009, when:

a) the activity supported require and when it is proved the Beneficiary’s payment capacity;
b) In case of financing for the acquisition of equipment for coffee preparing, drying and processing, the sum of amounts granted do not exceed the load limit of R$ 20 thousand; and
c) In case of financing through MODERFROTA PROGER, the sum of amounts granted by the beneficiary does not exceed R$ 150 thousand.


» Maturity

Up to 96 months, to the following new equipment: Harvesters, and harvesters and their cutting platform, when jointly invoiced; 

Up to 72 months, to the following new equipment: tractors and related accessories, equipment for coffee preparation, drying and processing; and

Up to 48 months, for tractors and harvesters used, with or without cutting platform.  


» Repayment

The principal payment may be annually or semiannually. 
The financial charge payment will be always made semiannually. 

The first repayment date and the principal payment intervals shall be defined by accredited financial institution according to the funding receipt flow of the beneficial property.


» Collaterals

In relation to the assets, object of the financing, must be constitute the trust property or pledge, to be kept up to the final contract termination. Properties given as collateral must be insured on behalf of and in the interest of accredited financial institution, up to the final settlement of obligations.

Pledge of credit rights from financial investments will not be allowed as collateral.

See: Guarantees


» Effectiveness

Up to 06/30/2009, respecting the budgetary limits.

The facilities contracted up to 06.30.2007, within the scope of Program for the Modernization of the Agricultural Tractor Fleet and Related Accessories and Harvesters - MODERFROTA, with effective interest rate higher than 9.5% per year, shall have prefixed interest rate replaced, from 07.15.2008, by variable rate composed of interest rate Long-Term Interest Rate – TJLP plus fixed interest rate of 3.25% per year, in compliance with the interest rate limit originally agreed per year.


» Addressing

The interested party shall address to the accredited financial institutions of its preference that shall inform the necessary documentation, analyze the possible credit concession and negotiate the warranties. After the institution grants approval, the facility will be submitted for official approval and further release of funds by BNDES.