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Government mulls credit line for small business secured by receivables

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Vincent

The federal government is pushing for a new credit line aimed at small businesses that could be guaranteed by receivables from credit card sales with a potential tax rebate mechanism targeted at good payers. Sources say the line could receive around R$10 billion from the National Treasury. According to the plan, banks and creditors would use the borrower's history of payments received through point-of-sale terminals to authorize loans, which would be repaid in installments as a percentage of future sales with interest at 3.75% per year - or less, as Selic policy interest rate keep falling - and a discount of around 5% over each month's revenues...

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