Good Finance exists to facilitate access to microcredit for microentrepreneurs. With the Good Finance credit line, we will have a faster loan. Our goal is to make life easier for those who have more difficulty accessing the banking system, among them: Afro-entrepreneurs, women, refugees, LGBT people, among others. We have this cut because we believe in entrepreneurship as an engine that can reduce social inequality in Brazil. So financing those who have the most difficulties is what makes the most sense.
The economy needs to grow again
Jobs need to be created and the income of the poorest families needs to increase. That’s why Good Finance is here.
Good Finance was born as a collective investment platform. In the network, we capture the investment necessary for a small business to grow. Click here and understand this credit option. In this specific text, we talk about a new way of making a loan. Through the Good Finance credit line.
How does the Good Finance credit line work?
The Good Finance credit line is used to finance productive activities. In other words, everything related to business growth can receive investment from Good Finance. For example reforms, working capital, hiring staff, communication to reach more customers and other activities that are linked to selling more and better. Our goal is to promote job creation, increase income and improve the quality of life of those who need it most.
As of the second half of November of that year, Good Finance will have its own credit line and will be able to borrow amounts of up to R $ 21,000 to be paid in up to 36x with a grace period to start paying.
Interest rates range from zero to 2.5% per month. From the moment the loan is approved, the transfer will occur within two business days to the entrepreneur’s account. Credit analysis can take up to 5 business days to happen.
In general, Good Finance promotes:
- Loans of up to R $ 21,000
- Payment in up to 36 installments
- Interest from zero to 2.5% per month
Access to financial services in the world: Brazil is in 131st position
Productive microcredit: economic and social impact
How does the loan work in practice?
We know that credit is a double-edged sword: it can mean the growth of the entrepreneur or it can become a debt. We do not want the second case to happen, so there is a process of careful analysis of the developments. We want to meet talented entrepreneurs who are struggling to get a loan.
In summary you will need:
- A bank account registered with your CPF
- Have a referral from a Good Finance partner organization
- Answer our financial profile questionnaire
- Send documents proving your last year’s earnings and expenses
First stage – indication
To take a loan with Good Finance, you must have at least 1 year of experience in entrepreneurship and be appointed by an organization that works with entrepreneurial training. These organizations have solutions for the areas of business management, market access, communication and related topics, but they do not promote access to credit itself. They can partner with Good Finance in partnerships to carry out referrals. See the official partners of the platform here.
We do this to get a second opinion from the entrepreneur.
Second step – credit analysis
Here begins the business analysis. With agility, through the internet, we carry out our own business evaluation.
First, the entrepreneur must answer our financial profile questionnaire. It was developed from a study carried out in partnership with FGV, Quintessa Institute, CDE Plan and other social businesses such as Moradigna and 4YOU2. These are questions that deal with basic knowledge of finance, risk appetite, consumption habits, among other relevant aspects.
The questionnaire link is sent by email after completing the registration on our platform under the button “I want a loan”. We do this to understand the risk of the loan.
Financial health analysis
At this stage, we want to understand how the finances of the enterprise are going. To do this, we ask you to send documents that prove the cash flow (earnings and expenses) of the business in the last three months.
It can be a spreadsheet, extract from the bank, the machine or if it is done in a notebook, the photos in that notebook. At this time we also ask the entrepreneur to send a photo of his ID.
We do this to understand what the approved amount will be. The payment installments must fit in the entrepreneur’s pocket.