ANNOUNCED AS TEMPORARYYes
On 28 September 2016, the Brazilian Company of Innovation and Research (FINEP) announced the approval of BRL 33 million (USD 10 million) loan allocated to the local houseware manufacturer Brinox Metalurgica S.A. The objective of these resources is to finance the research and development of innovative products and processes of household utensils.
The repayment deadline for the credit has been set to 28 September 2019.
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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