Discover the Caixa Tem Loan

See how the Caixa Tem Loan works and learn how to apply for one to get your ideas off the ground right now

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Often we come across a great business idea, the perfect plan for a career turnaround, but we don't have enough cash on hand to be able to kick-start this dream venture. Then we have two options: abandon the idea or look for resources that will help us.

With these people in mind, Caixa Econômica has developed the Caixa Tem credit line, which is nothing more than a loan for micro-entrepreneurs who want to start or improve a business, boosting it even further.

Crédito Caixa Tem is part of the Digital Microcredit Simplification Programme for Entrepreneurs (SIM Digital), and so far offers applicants a loan of up to R$ 3,000 reais.

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Interest on this type of credit is reasonably lower than on other lines of credit, reaching 1.99% for companies (PJ) and 2.99% to 3.60% for individuals (PF), with instalments of up to 24 months.

With this credit you can start your business, or pay off the expenses of your existing business, such as suppliers, staff salaries, water, electricity, rent and others. Interesting, isn't it?

Although the release of this credit is uncomplicated, you need to be aware of the modalities available and the specific criteria for each one. So you can apply as an MEI or get a personal loan. Remember that all these resources are aimed at helping new and small entrepreneurs.

If you're applying as an individual, you can apply for a Caixa Tem loan directly from your mobile phone, 100% digital. However, if you're applying as an MEI, you'll have to go to a branch. Check out the details below.

Read on to find out more about the Caixa Tem loan, how it works, the criteria for each type and how to apply.

Quick Index:

What is a Caixa Tem loan?

The Caixa Tem loan, provided by Caixa Econômica Federal, is like other types of conventional loans, i.e. it is a microcredit line made available to the account of those who are approved after analysis.

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This type of loan is aimed at individual entrepreneurs and individual micro-entrepreneurs (MEI). It was created with the aim of boosting these entrepreneurs, either by starting a new business or improving an existing one.

How the Caixa Tem Loan works

The Caixa Tem loan works in a similar way to other conventional services, where you can sign the contract digitally and the amount is made available directly to your current account. However, its distinctive features are:

Free contracting of personal loans: Customers are free to contract personal loans according to their needs and ability to pay.
Legal loans for small businesses: In addition to personal loans, there is also the possibility of legal loans for small businesses.
Release schedule: Loans are made available according to a specific release schedule established by Caixa Tem.

In this way, the Caixa Tem loan offers flexibility and options to meet both personal and small business needs.

Who is entitled to apply

People who can follow the steps to apply for a Caixa Tem loan include:

Caixa Tem account holders.
Employees.
Self-employed (without a work permit).
Beneficiaries of income distribution programmes.

If they are within the credit release period, Caixa Tem customers will not face many difficulties in updating their registration details and submitting a loan proposal.

Remember that the Caixa Tem loan is available to both individual (informal) entrepreneurs and individual micro-entrepreneurs (MEI) who want to start or improve their own business. For this, both forms of application have some specific criteria. Check them out:

Individual Entrepreneurs

This line of credit is aimed at individuals who are interested in starting or improving their business, including those who are beneficiaries of the Bolsa Família programme. To be eligible, you must:

Have less than 3,000 reais in bank debts on 31/01/2022, excluding housing loans and unused limits.
Keep your registration up to date with CAIXA Tem.
Have a CAIXA Tem savings account.
Getting your credit analysed.
Comply with the rules established for the CAIXA Tem Loan.

Individual Microentrepreneur (MEI)

This line of credit is aimed at legal entities that have a CNPJ as an MEI. Check out the criteria:

Have been an MEI for 12 months or more and have an annual turnover of less than 81,000 reais.
Have less than 3,000 reais in bank debts on 31/01/2022, excluding housing loans and unused limits.
Have a CAIXA Corporate Account.
Pass the credit analysis;
Comply with the rules of the loan - Crédito CAIXA Tem.

It should be noted that individuals who are natural persons or individual micro-entrepreneurs (MEI) and have loans or financing with banks or financial institutions worth more than R$ 3,000 by 31 January 2022 are not eligible to acquire this specific credit.

However, it is important to note that loans related to property finance, unused overdraft and credit card limits are not considered in this exclusion criterion.

Types of loans Caixa has

There are currently two types of loan available at Caixa Tem:

Caixa Has Personal Loans

This type of personal loan is designed to meet customers' personal financial needs. The amount and conditions of the loan are defined according to the client's profile and ability to pay.

Approved account holders have complete freedom to withdraw or transfer the money in any way they prefer, enabling it to be used to cover emergency expenses, pay bills, make investments or any other personal need.

In addition, the release of this credit does not impose any restrictions other than the established limit margins, making it an attractive and flexible option for meeting the account holder's financial demands in a convenient and agile way.

Caixa has credit for your business

This loan is aimed specifically at entrepreneurs with small businesses. If you are an individual micro-entrepreneur (MEI) or own a small business, this option may be suitable for financing improvements to your business, acquiring equipment or reinforcing working capital.

Unlike Crédito Caixa Tem Pessoal, this type of loan is not open-ended. Corporate account holders who apply for this loan must use the credit exclusively to invest in and improve their business.

This can include expenses with suppliers, employee salaries, water, electricity and rent payments, the purchase of raw materials and goods for resale, among other business-related operations.

To prove that the credit has been used properly, the account holder must present receipts and receipts showing where the funds have been used. It is recommended that the credit remain in the current account to make it easier to verify business transactions.

How to apply for a Caixa Tem Loan

For those with a Caixa Tem account

Download the Caixa Tem app on your mobile phone (available for Android and iOS).
Register with the application.
Open a savings account by selecting the "Register and open your account" option.
When you open the application, click on "Crédito Caixa Tem".
Choose the purpose of the loan - for business or other purposes. Select "business" (opting for "other" will take you to the previous loan type, with an interest rate of 3.99% per month).
Send a photo of a document and a selfie for identity verification.
If approved, the money will be deposited in the Caixa Tem savings account.

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For those without a Caixa Tem account

Access the application and update your registration by entering your personal details.
Send a photo of your identity document and a selfie for verification.
After the update, Poupança Social Digital will become Poupança Caixa Tem.
Wait for the credit analysis, which can take up to 10 days.
If the credit is approved, apply for the loan by selecting the "Loan - Caixa Tem Credit" option.
The money will be deposited in the Caixa Tem savings account after the contract is signed.
The instalments will be debited automatically from your savings account.

Remember that these processes are aimed at entrepreneurs in the individual category - self-employed. For those who are MEIs, the loan must be applied for in person at a branch.

How MEIs can apply for a loan

As mentioned in the previous topic, if you are an MEI, you must go in person to a Caixa branch to apply for the loan. In short, you are:

MEI: It is compulsory to go and apply directly to a Caixa branch to apply for the loan, you will have a limit of between R$ 1,500 and R$ 3,000, and you must have been registered for at least one year.

Have a corporate account: All you have to do is apply for the loan using your PJ account. If you don't have a PJ account, you need to go to a Caixa branch and open an account. The documents required are:

CCMEI - Certificate of Individual Microentrepreneur Status.
DASN SIMEI for the last financial year with the Delivery Receipt.
Personal documents (ID, CPF and proof of residence).

Once the credit has been approved, the funds will be made available in the account and can be used as required.

Can negative applicants apply?

Anyone who meets the rules established for entrepreneurs can apply for the loan. The only restriction is for those who have debts of more than R$ 3,000 by 31 January 2022, as defined by MTP Ordinance No. 660 of 28 March 2022.

Important! This restriction does not include debts related to housing finance.

Caixa Tem Loan Amounts

Once your loan application has been approved at Caixa Tem, you can apply for amounts between R$ 300 and R$ 1,000, with an interest rate of up to 3.99% per month. The repayment period varies from 12 to 24 months.

For Individual Microentrepreneurs (MEI), the maximum amount that can be borrowed is R$ 3,000, with an interest rate of a maximum of 3.60% per month. The MEI has 12 to 24 months to repay the Caixa Tem loan.

It's worth noting that Caixa's interest rate on this modality is one of the lowest on the market, currently higher than 4.1% at other banks and can reach up to 7%.

Conclusion

Although the amounts available aren't huge, if you have a business plan and need funds to get started, the Caixa Tem loan can be a way of at least getting your idea off the ground without too many complications. This way, you'll be able to boost your business or pay off small debts.

Remember that before applying for a loan it's always important to be aware of your financial situation, so as not to jeopardise your monthly budget or your quality of life. You need to be responsible and calculate the benefits and harms correctly.

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