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ANNOUNCEMENT 29 Dec 2014
The Brazilian government-funded Company of Innovation and Research (FINEP) approved a loan of BRL 32.3 million to San Marino Ônibus e Implementos Ltda.
NUMBER OF INTERVENTIONS
1
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
On 29 December 2014, the Brazilian Company of Innovation and Research (FINEP) announced the approval of a loan of almost BRL 32.2 million (circa USD 12 million at the time of the measure) allocated to San Marino Ônibus e Implementos Ltda., a local company engaged in the manufacturing of buses and passenger vehicles. The objective of these resources is to finance an R&D project related to the development of a new minibus line.
The repayment deadline for the credit has been set to 29 December 2016.
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.