Brazil’s Government Announces R$40 Billion Loan Fund for SMEs to Retain Jobs

This incentive is expected to be available for 1.4 million companies in up to two weeks.

RIO DE JANEIRO, BRAZIL - The federal government has just announced new measures to contain the damage to the economy caused by the spread of the coronavirus in Brazil. The package is aimed at small and medium-sized companies (SMEs), with annual revenues between R$360,000 (US$72,000) and R$10 million.

There will be a R$40 billion credit line (R$20 billion per month) that is exclusively intended to finance two months' worth of payroll costs, with a maximum limit of up to two minimum wages.

For instance: if an employee's salary is one minimum wage . . .

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