The proposed project consists of a loan of up to the equivalent in dollars of 33% of the company’s net worth. The proposed loan would be the IIC’s third transaction with FactorLine, and approval of the operation is based on the company’s good performance since 2004 and the increase in international factoring operations as a result of the free trade agreements signed by Chile. 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.
This is a category III project according to the IIC’s environmental and labor review procedure because it could produce certain effects that may be avoided or mitigated by following generally recognized performance standards, guidelines, or design criteria. FactorLine has already attended the environmental training course given by the IIC.