The acquisition of financial resources is a crucial phase in seeking the economic-financial viability of an innovation project. To succeed, the project must present significant attractiveness to financing agents.
Given the strategic role of innovation in increasing productivity, business competitiveness, and wealth generation for the country, support for innovation has become a priority for various funding agents in Brazil. In this context, the following resource acquisition modalities stand out:
Bank financing
Economic subsidy
Seed capital
Venture capital
Private equity
Crowdfunding
Bank financing is a traditional funding model through public or private financial institutions. This modality may offer access to subsidized interest rates via public institutions; however, its main characteristic is the need to repay the principal with added interest.
Economic subsidy consists of financial support through non-repayable public funds directly to companies, aiming to share the costs and risks inherent in innovation projects.
Seed capital, Venture Capital, and Private Equity are investment modalities aimed at promoting company growth so that investors can sell their stake in the future and realize significant gains. In these modalities, investors act as financiers and, in addition to providing funds, they help entrepreneurs professionalize the management of the company. A common feature in these modalities is that investors prefer innovative companies with high growth potential and future return.
In Seed Capital, the investment is made at the company’s early stage, sometimes when there are only ideas or projects on paper, with the aim of helping entrepreneurs with the first steps of the business.
In Venture Capital, investment is directed toward small and medium-sized enterprises that are already established in the market and show great growth potential. The main objective is to finance the first expansions of the business.
In Private Equity, the investment is aimed at companies already consolidated in the market with high revenues. In this type of investment, the entrepreneur sells an equity stake in their company in exchange for support in strategic management, corporate governance, and capital. The main goal is to provide a financial boost to prepare for an initial public offering (IPO).
Finally, but no less important, the Crowdfunding modality. It is a recent funding model, also known in Brazil as Financiamento Coletivo. In this modality, investment comes from donations, without donors acquiring legal rights over the product or company funded. It is generally aimed at raising funds for initiatives of collective interest, aggregating multiple funding sources—mainly individuals interested in the business. In short, it is an Internet-based campaign to raise funds for small businesses and startups. In the Open Innovation tab, you’ll find various operators of this funding modality.
A financial resource acquisition strategy requires objectivity and strong alignment with the company’s needs.
In light of ongoing changes and uncertainties in global debt markets, CEG CONSULTING OFFICE offers consulting services in an impartial, independent, and globally reached manner. The way we conduct our work ensures our objectives are fully aligned with those of our clients.
Through our global network of member firms and professionals in offices located in over 30 countries, CEG CONSULTING OFFICE serves public and private companies, private equity firms, financial institutions, and governments. Our goal is to provide services with excellence, leveraging deep knowledge and broad understanding of debt markets. Moreover, our relationships with banks and financial institutions are fundamental to meeting our clients’ goals.
Our professionals assist organizations—especially mid-sized companies in need of rapid growth—in analyzing their capital structure and raising financial resources for business expansion or debt restructuring via refinancing based on structured operations backed by commercial or real estate assets.
With our support, companies can direct their funding capacity based on their risk level and maturity. Likewise, with funding or restructuring their capital structure, they can prepare for milestone events requiring advanced maturity, such as an IPO.
Structuring credit operations for companies requiring strong specialization in the debt market:
Project Finance: advisory services in concession auctions and resource acquisition for infrastructure projects;
Acquisition financing: debt raising to enable company acquisitions and strategic moves;
Structured operations: advisory in raising resources through local capital markets (FIDC, FIP, infrastructure debentures, etc.) and international markets;
Advisory in obtaining incentivized financing (with BNB, BASA, BNDES, FCO, among others);
Refinancing of financial liabilities.
Credit portfolio evaluation, process mapping for asset portfolio management, advisory in the sale of non-performing loan (NPL) portfolios.
Intended for companies that manufacture machines and equipment domestically, or products with up to 50% national content. CEG Consulting Office has been obtaining its clients’ accreditation in shorter deadlines, since the accreditation projects are always submitted to BNDES in Rio de Janeiro, thus accelerating their analysis.
In our market we often face several difficulties in financing our own clients. Now, with our company registered in the FINAME system and on the BNDES Card Portal, we are offering excellent payment conditions, with low and subsidized interest rates from BNDES.
“GOOD FOR BUYERS, BETTER FOR SELLERS”
How to obtain working capital
Which funding lines the BNDES offers
What types of investments BNDES finances
What operational procedures are relevant for direct negotiations with BNDES
What operational procedures are relevant for negotiations with financial agents
Our specialty is preparing economic-financial feasibility projects in compliance with the standards and requirements of Financial Agents and BNDES.
Targeted at manufacturers of machines and equipment that are produced domestically or with more than 60% national content. This creates a more favorable market for your client while being profitable and reliable for the supplier. Our consultancy makes accreditation feasible.
In our current reality, we face many challenges in financing our own customers. By having the so-called “FINAME Code,” the manufacturer provides excellent terms for selling equipment—depending on each buyer’s credit analysis, carried out solely by their financial institution.
Identifies financing sources, along with beneficiaries, costs, participation limits, grace periods, and amortization schedules
Knows the care needed in project preparation
Evaluates entry options for foreign companies
Assesses the cost of BNDES resources: expensive or cheap?
Identifies opportunities for industry, commerce, services, agriculture, and infrastructure
Identify which types of expansion and/or modernization projects BNDES finances (in industrial, commercial, service, agricultural, and public infrastructure sectors)
Understand BNDES funding lines (costs, participation limits, grace periods, amortization schedules, guarantees)
Highlight main points to evaluate when preparing a project, including documentation and guarantees
Understand key aspects of negotiating with BNDES or through financial agents
The National Bank for Economic and Social Development (BNDES), an agency of the Federal Government, is the main long-term financing instrument for investments across all segments of the economy, including social, regional, and environmental dimensions.
Since its founding in 1952, BNDES has supported agriculture, industry, infrastructure, and commerce & services, offering special conditions for micro, small, and medium enterprises. The bank also implements social investment lines in sectors such as education, health, family agriculture, basic sanitation, and urban transport.
BNDES support comes through financing for investment projects, equipment acquisition, and export of goods and services. It also works to strengthen private companies’ capital structures and provides non-repayable financing for social, cultural, and technological development projects.
In its 2009–2014 Corporate Plan, BNDES prioritized innovation, local and regional development, and socio-environmental development as key aspects of economic stimulus across all supported ventures.
(Then follows descriptive sections on sectors: Agriculture, Commerce/Services/Tourism, Social & Urban Development, Industry, Export & International Insertion, Infrastructure, Innovation, Environment, Capital Markets, Micro-entrepreneur, and Rural Producer.)
BNDES FINAME Agrícola – financing for the acquisition of new, domestically manufactured agricultural machinery and equipment
Support for the Agricultural Sector – financing for one-off acquisition of agricultural machinery and equipment and for agricultural investment projects
Procaminhoneiro – funds for acquisition of trucks, chassis, truck bodies (new or used), tracking systems, asset insurance, and credit life insurance
BNDES FINAME – financing for acquisition of new, nationally manufactured trucks, tractor-trucks, semi-trailers, chassis, and truck bodies accredited by BNDES
BK Usados – supports acquisition of used national trucks, chassis, tractor-trucks, trailers, semi-trailers, truck bodies, machine tools, as well as new tracking systems and financed asset insurance
PROESCOLAR – funding for acquisition of new, nationally manufactured vehicles for school transport, accredited by BNDES
Investment projects and associated working capital
Investments in innovation
Agricultural investment projects
Capital goods
Acquisition and modernization of domestic machinery and equipment
Leasing operations
Manufacturing of equipment and systems
Importation of equipment
Production of goods and services
Commercialization of goods
Standalone working capital
Production of goods and services for export
Foreign market commercialization
Variable income operations
Subscription of securities
Reducing regional and social inequalities is a strategic BNDES objective. To achieve this, the bank partners with state and municipal governments to make necessary local infrastructure investments viable.
Public bodies and companies at all levels (federal, state, municipal; direct or indirect administration) may apply for BNDES financial support according to public credit legislation for infrastructure implementation, expansion, or modernization—covering civil works, facilities, machinery, equipment, furniture, and related expenses.
Acquisition of goods and services
BNDES FINAME – standalone acquisition of machines and equipment
PROSOFT Comercialização – purchase of software and associated services
PROVIAS – credit operations for acquiring new machinery and equipment for public roads, highways, and streets
BNDES Social Fund – non-repayable funds for social assistance projects
Financing line for education, health, social assistance, and public safety projects
Support for integrated multisector urban investment — multi-agency municipal projects addressing urban structural challenges
Support for structured public transport projects — full investment package for transforming urban areas
Support for environmental sanitation and water resource projects — aiming at universal access to sanitation services
Caminho da Escola – renewal and expansion of school transport vehicles for public basic education, especially in rural areas
IES – support for improving higher education quality
PROESCOLAR – already included above
PMAT – boosting municipal management, regulatory, operational, and technological capacity
PMAE – strengthening state-level tax administration
PEF – financing capital expenditure in annual budgets of states and the Federal District
To better reach potential clients across Brazil, most BNDES operations are indirect — conducted via accredited commercial banks, development agencies, and cooperatives. These partners analyze and approve credit requests and define guarantees. Clients typically approach institutions they are already registered with or have relationships with.
Financial institutions take on credit risk, but BNDES monitors and supervises operations and provides information to entrepreneurs upon request. Credit risk for exporting MPMEs can be covered by the Competitiveness Promotion Guarantee Fund (FGPC).
By approving credit through accredited institutions, BNDES decentrally serves its clients while partner banks gain deeper relationships and retention with high-revenue-growth clients.
Source: BNDES
How to obtain working capital
Which financing lines BNDES offers
What types of investments BNDES finances
Operational procedures for direct negotiation with BNDES
Operational procedures for negotiation via financial agents
Our specialty: drafting economic-financial feasibility projects in compliance with the standards of Financial Agents and BNDES.
Targeted at manufacturers of domestic machinery and equipment with over 60% national content. This facilitates market access for your clients and ensures profitability and security for suppliers. Our consultancy enables accreditation via the “FINAME Code,” offering excellent sales conditions—subject to each buyer’s credit analysis by their bank.
Identifies financing sources, including beneficiaries, costs, participation limits, grace periods, and amortization
Expert in project preparation
Analyzes opportunities for foreign companies
Evaluates BNDES funding costs: costly or cheap?
Identifies possibilities across industry, commerce, services, agribusiness, and infrastructure
Identifies types of expansion/modernization projects financed by BNDES across sectors
Understanding of BNDES lines (costs, participation limits, grace, amortization, guarantees)
Highlights key points in project design and documentation
Understands negotiation best practices with BNDES or financial agents
The National Bank for Economic and Social Development (BNDES) is Brazil’s main long-term investment financing instrument across all sectors, with a focus on social, regional, and environmental dimensions since 1952. It supports agriculture, industry, infrastructure, commerce, and services, offering special programs and non-reimbursable funds for social, cultural, and technological projects. From 2009 to 2014, it prioritized innovation, regional development, and socio-environmental advancement.
Agribusiness (e.g., livestock, pasture development, mechanization, irrigation—with environmental safeguards)
Commerce, Services & Tourism (modernization, infrastructure, software)
Social & Urban Development (health, education, sanitation, housing)
Industry (capacity expansion, innovation, export support)
International Trade (export competitiveness, foreign market access)
Infrastructure (energy, transport, sanitation under PAC)
Innovation (innovation ecosystems across all sectors)
Environment (sustainable investment criteria and financing for eco-projects)
Capital Markets (support for SMEs to access public offerings)
BNDES also supports microcredit, rural investment up to BRL 10 million, and school transport vehicle financing.