ANNOUNCEMENT 12 Dec 2016

The Brazilian government-funded Company of Innovation and Research (FINEP) approved a BRL 57.9 million loan to Lojas Renner S.A.

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: 12 Dec 2016 | Removal date: 12 Jun 2017

State loan

On 12 December 2016, the Brazilian Company of Innovation and Research (FINEP) announced the approval of circa BRL 57.9 million (USD 17 million) loan allocated to the local apparel retail company Lojas Renner S.A. The objective of these resources is to finance its "Criare" project.

The repayment deadline for the credit has been set up on 12 June 2017.


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

 
N/A