Industries gain more time to finance machines
DCI 09/24/10
Owners of small and medium-sized businesses of the State of São Paulo now have more time to start paying the financing for the purchase of machinery and equipment as well as to invest in projects of increase of their productive capacity. The São Paulo Agency of Promotion (Agência de Fomento Paulista)/Nossa Caixa Development (Nossa Caixa Desenvolvimento) increased the grace period from six months to up to one year for anyone using the São Paulo Investment Funding Line (FIP) for the purchase equipment and investment projects.Another piece of news is that the whole FIP Line funds 100% of the projects. Besides, a new incentive for the entrepreneurs of São Paulo is that now, besides the purchase of new machinery and equipment, used ones can also be financed. The FIP is intended for projects of implementation, expansion, modernization of the productive capacity, innovation and technological development, environment and energy efficiency for the industry, commerce, agribusiness industries, service renderers and production cooperatives of São Paulo. The FIP line offers an interest rate of 0.65% a month (plus the correction in accordance with the IPC-FIPE (Consumer Price Index issued by the Economic Research Institute Foundation), with a term of payment of up to 60 months, including the period of grace.