Fintechs will help transfer a total volume of resources of R $ 5b destined for working capital for SMEs, giving them a crucial role in the midst of the COVID crisis
On March 26, the National Monetary Council (CMN) authorized the fintechs to pass on BNDES loans. Two days later, the bank's president, Gustavo Montezano, said that these companies would help transfer a total volume of resources of R $ 5 billion destined for working capital for small businesses, which in his opinion would increase competition in the market. On the table, there are three different discussions: allowing the fintechs to pass on the resources of the development bank, as well as the banks; make BNDES an investor in these companies through investment funds; and offer specific bank financing lines to fintechs. "We are seeing BNDES enter as a normalizing agent in the market with 'patient' money - which it can lend today, but does not need to have a return soon," says Rafael Pereira, president of the Brazilian Digital Credit Association (ABCD). A consensus between the parties lies in the fact that discussions can still take from one to two weeks, while trying to find ways to operationalize all these ideas that arrive to resolve the issue of lack of liquidity in the market and the escalation of credit risk.