MEIs will have lower interest rates on car financing after federal government measure

Individual microentrepreneurs (MEIs), including self-employed truck drivers, now have a new door to access credit for the purchase of new vehicles. This is because the federal government published Provisional Measure (MP) 1,371/2026, which corrects the wording of MP 1,354/2026 and expands the scope of financing operations guaranteed by the Investment Guarantee Fund (FGI).

With the change, MEIs are now expressly included among the beneficiaries of the line, which has up to R$ 2 billion in FGI guarantees. In the previous version, edited in May, the wording limited the reinforcement to small and medium-sized companies, although MP 1,354/2026 itself had already expanded the use of the fund to finance self-employed road cargo workers. The gap raised doubts about the inclusion of individual microentrepreneurs.

Published on June 24, the new MP has, according to the government, only a descriptive character: it does not change values, conditions or the scope of the extraordinary credit, it only aligns the text with the original purpose of the program. The financing is aimed at the acquisition of new vehicles, such as trucks, buses and minibuses, essential assets for those who depend on transportation to work — from service providers and commercial representatives to delivery workers and truck drivers.

Why does the inclusion of the MEI in the FGI bring down the interest on the financing?

The explanation lies in the risk calculation made by the banks. Without a robust credit history or assets that can be given as collateral, the microentrepreneur is usually classified as a higher risk borrower — which translates into higher interest rates or refusal of financing. Managed by the National Bank for Economic and Social Development (BNDES), the FGI comes in precisely at this point: by covering part of any default, the fund works as the guarantee that the MEI itself would not have to offer.

With less risk embedded in the operation, the financial institution reduces the so-called expected loss and gains margin to lower the rate and approve the credit more easily. Before the correction, the ambiguous wording left doubts about whether this coverage would apply to MEIs, which could lead banks to treat them as unsecured customers — and, therefore, to charge more.

For the president of Sebrae, Rodrigo Soares, the update eliminates the legal uncertainty that surrounded the measure and gives more support to banks when granting financing. “The FGI works as a guarantor, reducing the risk for banks and, consequently, being able to contribute to lower interest rates for the borrower,” he told the Sebrae News Agency.

Soares points out that autonomous carriers and MEIs have always been part of the target audience of the initiative, but the absence of an explicit provision in the previous wording could generate resistance from financial institutions. Even so, the effective reduction of interest rates will depend on how each partner bank will make the line available.

Despite already being in force, MP 1,371/2026 still needs to be approved by the Chamber of Deputies and the Federal Senate to be converted into law and not lose its validity.