SP Agency of Promotion enters into agreement with 4 sectors
Valor Econômico 09/29/10
The São Paulo Agency of Promotion Nossa Caixa Desenvolvimento entered into a partnership with business entities in the sector of bars, restaurants and hotels, chemistry and petrochemistry and information technology and other industries to offer funds at competitive interests for investments, acquisition of machinery and equipment and working capital.With the agreement, the small and medium-sized companies associated to the Center of Industries of the State of São Paulo (Ciesp), the Federation of Hotels, Restaurants, Bars and Similar Establishments of the State of São Paulo (Fhoresp), the Institute of Technology and Software (ITS) and the Association of the Industries of Chemicals in the State of São Paulo (Sinproquim) will have access to three types of financing lines.
The first for projects of investment with interest rates of 0.65% a month, plus correction in accordance with the IPC-FIPE and term of up to 60 months for payment. The line for machinery and equipment features the same conditions and may fund 100% of the financed items. Loans for working capital have rates of 0.96% a month and up to 24 months for payment. In 18 months of operation, the Agency released R$ 168 million (US$ 96 million), it has R$ 600 million (US$ 342.9 million) in cash and another R$ 400 million (US$ 228.6 million) set aside in other accounts payable that were not transferred since there was no need.