ANNOUNCEMENT 19 Dec 2017

The government-funded Company of Innovation and Research of Brazil (FINEP) approved a BRL 45 million loan to HERVAL Indústria de Móveis, Colchões e Espumas Ltda.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Brazilian Company of Innovation and Research. Empresa Brasileira de Inovaçao e Pesquisa. Projetos contratados e valores liberados. Retrieved on 02/05/2018. Available at: http://finep.gov.br/acesso-a-informacao-externo/transparencia/projetos-contratados-e-valores-liberados

Brazilian Company of Innovation and Research. Empresa Brasileira de Inovaçao e Pesquisa. Financiamento Reembolsável. Available at: http://finep.gov.br/component/content/article/120-apoio-e-financiamento/tipos-de-apoio/financiamento-reembolsavel/42-financiamento-reembolsavel

Inception date: 19 Dec 2017 | Removal date: open ended

State loan

On 19 December 2017, the Brazilian Company of Innovation and Research (FINEP) announced the approval of BRL 45 million (USD 13.5 million) loan allocated to the local manufacturer HERVAL Indústria de Móveis, Colchões e Espumas Ltda. The objective of these resources is the development and innovation of products for the furniture, mattress and retail industries. 

The repayment deadline for the credit has been set up on 19 December 2020.

 
FINEP lending
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.

AFFECTED SECTORS

 

AFFECTED PRODUCTS