ANNOUNCEMENT 25 Aug 2014

The Brazilian government-funded Company of Innovation and Research (FINEP) approved a loan of circa BRL 107.5 million to Stemac S/A Grupos Geradores.

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: 25 Aug 2014 | Removal date: 25 Aug 2017
Still in force

State loan

On 25 August 2014, the Brazilian Company of Innovation and Research (FINEP) announced the approval of a loan of circa BRL 107.5 million (USD 47 million at the time of the measure) allocated to Stemac S/A Grupos Geradores, a local company engaged in the manufacturing, marketing, and maintenance of power generator sets. The objective of these resources is to finance a project of the company called "MPPC - Market, Planning, Production and Customer."

The repayment deadline for the credit has been set to 25 August 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