Approved MP of $3.6 bn for small companies in Brazil

The Senate approved Provisional Measure (MP) 977/2020, which opened an extraordinary credit of R$ 20 billion ($3.6 bn) for the Union to guarantee loans to companies with gross revenues between R$ 360 thousand and R$ 300 million ($65k – $55mm). The initial contribution will be R$ 5 billion ($910mm) and the following instalments will occur according to the demand of the credit market for guarantees.

Source: Money Times