ANNOUNCEMENT 29 Dec 2014

The Brazilian government-funded Company of Innovation and Research (FINEP) approved a loan of over BRL 55.4 million to Scorpios Industria Metalurgica 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: 29 Dec 2014 | Removal date: 29 Dec 2017
Still in force

State loan

On 29 December 2014, the Brazilian Company of Innovation and Research (FINEP) announced the approval of a loan of over BRL 55.4 million (circa USD 20.6 million at the time of the measure) allocated to Scorpios Industria Metalurgica Ltda., a local company engaged in the manufacturing of motor vehicle parts and accessories. The objective of these resources is to finance the strategic innovation plan of the firm.

The repayment deadline for the credit has been set to 29 December 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