ANNOUNCED AS TEMPORARYYes
On 12 December 2016, the Brazilian Company of Innovation and Research (FINEP) announced the approval of circa BRL 57.9 million (USD 17 million) loan allocated to the local apparel retail company Lojas Renner S.A. The objective of these resources is to finance its "Criare" project.
The repayment deadline for the credit has been set up on 12 June 2017.
The resources enclosed on the programs managed by FINEP are limited to Brazilian companies and seek to boost the national and international competitiveness of these businesses.
The interest rates set on the credit lines are composed of the long-term interest rate (TJLP) plus a supplement ranging between 1.5% and 7%, depending on the credit line and the repayment period.
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