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New operations of the payroll financing program begin today, now for a longer period and with expanded scope

08/27/2020

 The Brazilian Development Bank will accept, as of this Thursday, August 27, new hires from the Emergency Employment Support Program (PESE), with important changes. Among them, the following stand out: the extension of the program term until October 31, 2020; the expansion of the annual revenue limit for the benefited companies from R$ 10 million to R$ 50 million; and the possibility of applying for a loan from banks other than those where the company pays its employees. The adjustments were made in Provisional Measure 944/2020, of April 3, during its transit in the National Congress concluded last week, with the sanction of Law 14,043/2020. The previous version of the program was launched as one of the first measures to address the effects of the pandemic on the economy.

“With the adjustments, PESE increases its reach, both in terms of the number of companies and payroll systems that can be financed, and in its term, which was extended until October. This should help companies to mitigate the effects of the pandemic, “explains Marcelo Porteiro, Superintendent of the BNDES Digital Channels and Operations division.

Managed by the National Treasury, operated by BNDES and supervised by the Central Bank of Brazil, PESE provides resources for the funding of payrolls for small- and medium-sized companies with annual revenues of up to R$ 50 million. Of the total amount transferred, 85% comes from the National Treasury and the other 15% from participating financial institutions. 

Funding is limited to R$ 2,090.00 per employee, equivalent to two minimum wages for each payroll. Loans are contracted indirectly, that is, through one of the financial agents that shall join the program (see the full list of agents registered).

See below the list of PESE features available as of today:

a) extension of the term for contracting operations between companies and financial agents from 30 June to 31 October 2020;

b) expansion of payroll financing from two months to four months;

c) in addition to entrepreneurs and business and cooperative societies, the list of beneficiaries of the program will also include civil society organizations and rural employers;

d) request allowed for companies with annual sales between R$ 360,000and R$ 50 million. According to the previous rule, the billing limit was R$ 10 million;

e) commitment on the part of the company not to dismiss, without fair cause, up to 60 days after receipt of the last installment of the credit line, in the same proportion as the total payroll that has been paid with funds from the program.

f) possibility of contracting the financing with a financial institution other than the one through which the company pays its employees. Funds continue to be used to pay employees;

g) prohibition on financial institutions participating in the program to charge service fees or any other types of financial consideration for the operationalization of the receipt of amounts by the contracting company related to the credit operations dealt with by PESE.

About BNDES – Founded in 1952 and currently linked to the Ministry of Economy, BNDES is the main instrument of the Federal Government to promote long-term investments in Brazilian economy. Its actions are focused on socioenvironmental and economic impact in Brazil. BNDES offers special conditions for micro-, small- and medium-sized enterprises, as well as social investment lines, directed at education and health, family agriculture, sanitation and urban transport. In situations of crisis, the Bank acts in an anticyclical manner and assists in the formulation of solutions for the resumption of economic growth.

Learn more about PESE.

Follow the performance of PESE.

Find out about the emergency measures that BNDES has already announced.

 

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