FactorLine S.A II
The proposed project consists of a US$2 million loan to FactorLine S.A. The proposed loan would be the IIC’s second transaction with FactorLine, and approval of the operation is based on the company’s good performance during 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.
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.