Expected Consideration Date by the Board:
The proposed project consists of a US$3 million loan to FactorLine S.A. The loan proceeds will be used to finance international factoring operations with a term of up to one year for small and medium-size companies in Chile. These companies must meet the eligibility criteria established by the IIC.
Environmental Classification and Issues: This is a Category III project according to IIC's environmental and labor review procedures. Each Eligible Company will certify its compliance with national environmental and labor laws, regulations, and standards as well as IIC policies. In order to be able to recognize potential environmental concerns and become familiar with IIC requirements, FactorLine will be required to attend the environmental training course given by the IIC.