ANNOUNCED AS TEMPORARYYes
On 19 July 2016, the Brazilian Company of Innovation and Research (FINEP) announced the approval of BRL 33 million (USD 1o million) loan allocated to the local industrial food machinery manufacturer Maquinas Sanmartin Ltda. The objective of these resources is to develop a new generation of palletizing and sorting system.
The repayment deadline for the credit has been set up on 19 July 2018.
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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