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3w ago

Brazil Expands Move Brasil Credit Line After BNDES Reports More Than R$1 Billion Lent to Drivers

The government widened eligibility to allow certain used electric and hybrid‑flex cars and put guarantees in place to push banks to lend under lower interest terms.

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Overview

  • By July 15 the BNDES said it had disbursed more than R$1 billion to 10,179 app and taxi drivers using the Move Brasil line, with an average loan near R$102,000.
  • A provisional measure updated July 15–16 now permits financing of electric or hybrid‑flex seminovos built from 2024, while keeping the R$150,000 price cap and one‑vehicle limit per beneficiary.
  • The program offers below‑market interest rates set by the CMN (about 12.6% a year for men and 11.5% for women), up to 72 months of repayment and a reported six‑month grace period.
  • Loans must be taken through BNDES‑accredited lenders only, with participating banks and financiers published by BNDES, and the Fundo Garantidor de Investimentos began backing the line on July 2 to lower lender risk.
  • The change aims to broaden access for drivers who faced banks’ early reluctance to lend, but contracting windows and the scope of guarantee coverage will determine whether the R$30 billion credit line can scale as planned.