ANNOUNCED AS TEMPORARYNo
On 7 April 2015, the Brazilian Company of Innovation and Research (FINEP) announced the approval of a BRL 42.9 million loan (USD 13.8 million at the time of the measure) allocated to Lojas Americanas S.A., a local retail chain that englobes bricks-and-mortar stores, e-commerce, telephone, catalogues, home shopping and TV and kiosks, among others activities. The objective of these resources is to finance the development of its Varejo 2.0 project
The repayment deadline for the credit has been set to 7 March 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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