Brazilian state-owned bank Caixa Econômica Federal will launch next August an app for micro and small businesses to apply for a loan, according to Mobile Time. The credit analysis will be done digitally, but it will be necessary to go to the bank to sign the contract.

Caixa also reported that the Support Program for Micro and Small Enterprises (Pronampe) registered BRL 4.24 billion in contracted credits. Altogether, counting the Guarantee Fund for Micro and Small Enterprises (Fampe), the bank granted BRL 6 billion to SMEs.

New lines of credit guaranteed by the National Treasury, such as Pronampe, are the main bet of the Brazilian government and financial institutions to help small entrepreneurs in resuming activities.