Brazilian banks increase credit availability for micro and small enterprises

Banco do Nordeste (BNB) has announced R$ 1.88 billion in available credit to help micro and small enterprises (MPEs) prepare for year-end sales. The funds, sourced from the Northeast Constitutional Financing Fund (FNE), are accessible to businesses in the Northeast region, as well as parts of Minas Gerais and Espírito Santo. Resources can be used for inventory purchases, working capital, property acquisition, and business innovation.

In Minas Gerais, the Banco de Desenvolvimento de Minas Gerais (BDMG) reported a record R$ 740 million in credit provided to micro and small businesses from January to mid-October. This represents a 90% increase compared to the same period in the previous year. The growth is supported by a network of approximately 1,100 authorized banking correspondents who facilitate access to credit across the state.