ANNOUNCEMENT 09 May 2017

The Brazilian government-funded Company of Innovation and Research (FINEP) approved a BRL 64.8 million loan to B2W - Companhia Digital.

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

B2W Digital Company. B2W Companhia Digital. Financial statements – ITR at
September 30, 2017, and independent auditors’ report on quarterly information, p. 53. Available at: https://static.b2wdigital.com/upload/itr/00002994.pdf

Inception date: 09 May 2017 | Removal date: 09 Nov 2018

State loan

On 9 May 2017, the Brazilian Company of Innovation and Research (FINEP) announced the approval of BRL 64.7 million (USD 20 million) loan allocated to the local digital company B2W - Companhia Digital. The objective of these resources is to finance the company's development of the digital ecosystem.

The repayment deadline for the credit has been set up on 9 November 2018.

On December 2014, B2W - Companhia Digital already received a BRL 231 loan from FINEP to finance R&D projects (please, see related state acts). In this sense, according to the company's financial statements, the credits provided by FINEP enjoy an interest rate of TJPL + 3% and 4% a.a.

 
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.

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AFFECTED PRODUCTS

 
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