BNDES approves US$420k loan for Powerlogic
Bnamericas Published: Friday, April 09, 2004
Brazil's national development bank BNDES has approved a 1.2mn reais (US$420,000) loan for local software company Powerlogic Consultoria e Sistemas to develop a new product line, BNDES said in a statement. The loan, granted through the bank's special software financing unit Prosoft, represents 57% of the 2.1mn reais needed to develop and market the e-Company Suite for the corporate portal market. The Minas Gerais state-based company expects to have the new line ready in 24 months. Terms of the loan are the BNDES' special long-term interest rate, TJLP, currently at 10% a year, plus an additional 1%. Prosoft expects to lend some 100mn reais this year.
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