BNDES will sponsor FDICs to finance small and medium-sized suppliers

The National Bank for Economic and Social Development (BNDES) will sponsor the creation of credit rights funds (FDIC) to finance small and medium-sized suppliers in the supply chain of large “anchor companies”.

A pilot of the new product was launched in partnership with Padtec, a supplier of telecommunications equipment that works with small and medium-sized internet providers.

The pilot FDIC was structured between BNDES, with resources from the Fund for the Technological Development of Telecommunications (Funttel), and Padtec.

The BNDES contribution to the fund may reach R$ 80 million.

In a note, BNDES informed that the operation should positively impact about 400 thousand people, through dozens of small and medium providers that will be able to count on financing for the acquisition of Padtec equipment.

The new product was baptized as BNDES Credit Fund for Industry and Services, in two lines.

The development bank did not say how many FDICs — the instrument is common in the market; the funds invest in credit rights, which correspond to the credits that a company has to receive, such as checks, credit card installments or even duplicates, invoices, among others — it intends to create, within the scope of the new product, not even a total value of investments.

According to the rules of the new line, the BNDES’ minimum investment in each fund will be R$ 40 million.

In the first line, contributions will always be made in conjunction with a company or “anchor institution”. These large firms give rise to “credit rights from their activities with customers, suppliers, service providers, franchisees or distributors”, informed the BNDES.

To contract the FDIC structuring with the development bank, interested parties need to survey a debtor base composed of at least 70% of micro, small and medium-sized companies, in addition to rural producers and/or individuals, who are inserted in their chains productive.

In the second line, called “Anchor Institution”, the FDIC is structured by BNDES in partnership with a third public or private investor.

In this case, the sponsoring institution’s partner is not the company that gives rise to the credit rights, but investors who “have an interest in promoting productive sectors that rely on the presence of MSMEs, but of which they are not the counterparty of the rights”. creditors”.

BNDES Credit Fund for Industry and Services is the second product announced this year by the development bank to finance small and medium-sized suppliers of supply chains.

In May, BNDES Crédito Productive Chains was launched, as it was renamed, when it became permanent, a credit line to finance the supply chain of large companies, launched in June 2020, amid measures to mitigate the crisis caused by the Covid-19.

In this case, the loan is provided directly by the BNDES—and not by an FDIC—with the “anchor company” as an stakeholder.

Thus, small and medium-sized suppliers are able to take out credit with conditions similar to those of the “anchor company”, that is, with lower interest rates and longer terms.