The Worker Credit program, a new government initiative aimed at providing easier access to payroll loans for private sector workers in Brazil, has quickly gained traction since its launch on March 21, 2025. Within just two days, the program registered an impressive 40.1 million loan simulations and finalized over 11,000 contracts, illustrating a robust demand for this financial tool.
Operated through the Digital Work Card app, the initiative makes it possible for employees with signed work permits and micro-entrepreneurs to secure loans with a direct payroll deduction. This model diminishes the risk of default and allows for lower interest rates compared to other credit options. According to government estimates, the program could facilitate loans for as many as 47 million individuals.
The numbers are staggering: as of March 23, 2025, a total of 40,180,384 simulations were completed, along with 4,501,280 requests for proposals to financial institutions. The program has already been a success in its early days, and the anticipated flexibility, allowing workers to leverage their FGTS (Severance Indemnity Fund) and even their severance fine as collateral, is expected to significantly enhance participation rates.
Gleisi Hoffmann, the Minister of Institutional Relations, has been a vocal advocate for the initiative, promoting it across various platforms and emphasizing its accessibility. “Tight budget? High interest? Get Lula's loan,” she advised in a social media video, highlighting the positive implications the program is designed to carry for workers struggling with financial constraints.
As stipulated by the program, loan installments are capped at 35% of an employee's gross salary, including commissions and bonuses. This ensures that monthly deductions remain manageable for workers. Additionally, workers have the option to cancel their loan within seven days of receiving funds, enabling them to mitigate any rash financial commitments and return funds if needed.
The program also offers a seamless transition for those already utilizing other payroll loans. From April 25, employees will have the opportunity to transfer existing loans to this new model within the same banking institution, while interbank portability will be available starting June 6. This means that individuals can shop around for better loan conditions even if they have previous commitments.
In terms of operational mechanics, financial institutions are required to provide loan options within 24 hours of a request. This accelerated process adds efficiency to the experience for potential borrowers. Furthermore, the reliance on eSocial, a system that consolidates employment data, assists in making the installation and authorization of loans straightforward.
Despite the encouraging statistics, concerns linger about access for all CLT workers. Currently, many employees may find themselves underserved by the bank systems. Hoffmann reinforced the government's commitment to expanding access by streamlining the process traditionally encumbered by cumbersome data-sharing agreements between employers and banks.
The long-term goal of the Worker Credit program extends beyond merely offering loans; it aims to establish a more diverse and accessible credit landscape for Brazil's private sector employees. By providing a pathway for proper financial support and backing by the government, the initiative seeks to ensure that workers are equipped to manage their financial obligations better.
Given the neck-craning statistics and positive societal implications, the Worker Credit program represents a promising development in Brazil's economic landscape. As this program continues to unfold, adaptations may emerge in response to public feedback, with an ongoing commitment to improving financial accessibility for workers paving the way for future entrepreneurship and economic growth.
