Updating your Digital SIM requires following a few steps. But, as it is an easily accessible digital loan with low fees, entrepreneurs seek credit a lot. The first step to achieving this is to download the Caixa Tem app: with it, you can move money from your Digital SIM with ease.

People who received emergency aid due to the pandemic can also request the Digital SIM. Caixa Econômica checks their registration and makes an assessment to grant the benefit. The bank also recommends that anyone using the app update the app to keep their registration status up to date. 

Anyone who wants to obtain microcredit needs to know that there are differences between the Digital SIM and credit via Caixa Tem: while the former is backed by the Microfinance Guarantee Fund (FGM), the benefit of the app is for customers who have not been negative. Furthermore, the FGM is available to most banks, but only Caixa operates with the fund's guarantee.

General data on loan contracts

This April alone, 600,000 requests were made to obtain Digital Microcredit for Entrepreneurs (Digital SIM), with 900,000 operations using the amount provided by the bank, both with the Digital SIM and with credit via the app. Furthermore, 83% of the total requests for credit came from people without permission to obtain their loan from the bank. 

This helps to explain why the average amount obtained by those denied (R$ 778.31) is greater than the amount of the other 102 thousand who do not owe a bank (R$ 735.50), which are a fifth of the total of those who requested the microcredit.

The difference becomes clearer when you look at the values for each of the two types of client: while those who were negative earned, in total, R$ 388 million, the total for those who are regularized does not even reach a fifth of that number — it only reaches R$ 75 .7 mi. 

In other words: the economic crisis is attracting people who have problems with their accounts to obtain new opportunities with loans. That's why Caixa seeks to alleviate the situation by offering credit at great values to start a business.

See below the tips on how to install the Caixa Tem app to move the Digital SIM:

Information about Caixa credit for the loan

Individuals can obtain loans worth up to R$ 1 thousand, at a rate of 1.95% per month. The amount must be paid within two years (24 months). But, pay attention! To grant credit to those who use the app, Caixa first seeks to find out whether the person provides any service, that is, whether they have an active business, even without having created a legal entity. 

Still on this issue, the Individual Microentrepreneurs (MEIs) should also be aware of how to obtain the Digital SIM. For them, the request to obtain credit must be made to Caixa, and must be done in person. 

Another objective of Caixa is to activate the economy through entrepreneurship. Therefore, individual micro-entrepreneurs can take out loans of up to R$ 3 thousand, with rates of 1,99% per month, with payment in up to 2 years.

However, economic experts point out that it is more viable to pay your debts at this time and try to invest in the long term, avoiding risks with the credit obtained. This way, negative people clear their name and have more chances of starting their own business, for example.

I got the loan. And now?

There are several ways to make your business sustainable with the Digital SIM in the long term. One of them is to create a small business, like retail sales, for example. Another solution is to have a social project, focusing on a problem in your own community, investing calmly.

The trend for the period after the coronavirus crisis is supermarkets, grocery stores and warehouses. The increase in gasoline and food prices in general reinforces the creation of these businesses: more than 400,000 were created this year alone and MEIs are the majority. This way, investing little by little becomes useful for those looking to earn more money and even clear their name.

Deliveries also present a new opportunity, as those who want to invest may have lower costs. In relation to this strategy, entrepreneurs in the home delivery food industry are looking to set up dark kitchens.

Ghost kitchens, as they are also known, have the advantage of not having to receive customers on site. Along with this factor, with home deliveries it is no longer necessary to have space for customers.