Starting this week, the main credit unions in Goiás will offer special payment or financing conditions to the cooperative companies. Therefore, they will suffer greater economic impact with the crisis caused by the pandemic of the new coronavirus (Covid-19) in Brazil.
In addition to extending the payment terms for financing and loans, depending on each case, special lines of credit with longer grace periods and payment terms are being studied.
Banco Cooperativo do Brasil (Bancoob) will provide up to R$ 500 million for these new operations by credit unions in the country.
The sector predicts that in the next two weeks it will be necessary to offer differentiated conditions for cooperative companies that are among the segments most affected by the restriction measures imposed by public authorities to prevent further spread of the coronavirus.
“We are preparing to meet a demand that will certainly exist in the coming weeks.
We all support the measures being taken by the state and federal government authorities, in order to safeguard the population from the coronavirus. So we know that they will have an economic impact”, says the president.
renegotiations
“The Central Bank's guidelines make it possible to extend maturities without generating an increase in the customer's risk profile. Although what will result in positive renegotiations by the credit unions, which are autonomous in their deliberations, with the cooperative members.
Sicoob Secovicred has decided that it will renegotiate the debts of the cooperative members in difficulty to pay the installments, extending the term and reassessing the rates. Therefore, with a grace period of one month, so that they are more adequate to their new financial capacity”, explains the president of Sicoob Goiás Central, Marcelo Baiocchi.
The president of Central Sicoob Uni, Clidenor Gomes Filho, says that there are two lines of action that the credit union will act. As well as lengthening payment terms for current loans and financing. Thus, with the possibility of reducing the monthly installments, in addition to new credit lines with a grace period and longer payment terms.
The president of Central Sicredi Brasil Central, Celso Ronaldo Figueira, says that the market is being monitored to assess which cooperative members' greatest demands for financial support will be.
Conventional cooperative operations
“We have not yet identified specific demands from segments or companies impacted by the crisis, but they will certainly exist.
We continue to offer our conventional credit operations, but we will also evaluate specific and punctual cases that may have a greater impact on their activities due to the coronavirus”, he says.
Bancoob recommended that all central and individual credit cooperatives in the country extend the maturities of credit operations in the segments most impacted by the current crisis. However, after a careful evaluation of each case, setting new deadlines according to the cooperative members' ability to pay.
Febraban has recommended a grace period of up to 60 days for loan and financing payments, provided that the borrower does not present it. However, previously, financial problems or demonstrated difficulties to honor payments under the new agreed conditions.
Bancoob also recommended that cooperatives evaluate the possibility of offering credit lines under special terms and rates.
