Finder helps companies structure and raise funding through Brazil's subsidized and incentivized credit lines, matching investment needs to the alternatives available from FINEP, BNDES and other development programs.
Our work goes beyond identifying a credit line. We handle the application end to end: project design and drafting, eligibility, financial modeling, information preparation, collateral structuring, contracting, and the evidence of fund use required after disbursement.
The aim is a financially viable operation, consistent with the project and with each program's requirements, closing the gap between a financing opportunity and its actual execution.
Innovation finance
FINEP, Brazil's federal innovation financing agency under the Ministry of Science, Technology and Innovation, funds innovation, technology development and competitiveness projects. Access can be decentralized, through accredited financial agents, or direct with FINEP, and each route has its own rules, review process and timelines.
Under Inovacred, FINEP operates through accredited financial agents (development banks, state development agencies, banks and credit cooperatives) that review the credit, set the collateral and contract the loan with the company, within the program's rules and limits. It is generally aimed at small and mid-sized companies, subject to the revenue thresholds in force.
Accredited agents include regional and state development banks such as BRDE, BADESC, BDMG and Desenvolve SP, as well as accredited banks and cooperatives.
How Finder works
Depending on the company's profile, the nature and size of the project and the criteria in force, we may consider credit operations contracted directly with FINEP and reviewed by FINEP itself, as well as non-reimbursable instruments such as economic subsidy grants awarded through public calls.
Inovacred and direct operations are not interchangeable: the counterparty, the review, the collateral and the limits all differ. Part of our job is to identify the route that fits the project.
Investment and expansion finance
BNDES, Brazil's national development bank, finances expansion, modernization and innovation investments through two main routes: operations contracted directly with the bank, and indirect operations handled by accredited financial institutions.
In a direct operation, the company submits its request to BNDES, which reviews the project and the credit against the requirements of each line. This route generally applies to financings above BRL 20 million, with exceptions under certain lines and programs.
How Finder works
In an indirect operation, the company borrows through a BNDES-accredited financial institution, which reviews the request, negotiates terms and collateral within BNDES rules, and takes the credit risk.
Finder supports the choice of alternatives, prepares the credit file, builds the financial model, manages the relationship with the financial agents and follows the process through.
Financing for investment projects such as new facilities, expansion and modernization. Generally for amounts from BRL 20 million, with exceptions under certain lines.
A program for innovation and digitalization projects, with direct and indirect sub-programs, each with its own minimum amounts, limits and terms.
Brazil's telecom fund, operated by BNDES as financial agent, for connectivity and network expansion projects by eligible telecom providers. Not a general-purpose line.
Availability, terms, access route and eligibility change over time and vary by company size, sector and purpose. Every case is assessed against the rules in force.
Start to finish
Six stages, run together with the company's team, the financial institutions and the operating agents.
Review of the company, the project, the investments, the financeable items and the eligibility criteria.
Objectives, rationale, scope, timeline, budget and expected results.
Projections, cash flow, sources and uses of funds, debt service capacity and impact on the capital structure.
Assessment of collateral requirements and preparation of the information needed for the credit review.
Preparing and filing the application, answering information requests and following the review, negotiation and contracting.
Organizing documents, evidencing expenditure, tracking project execution and meeting the obligations set out in the contract.
The extent of our involvement depends on the agreed scope and on each program's rules.
Financial perspective
An attractive financing cost does not make a line the right choice for every company. The purpose of the investment, the execution timeline, debt service capacity, collateral requirements and the obligations attached to the funds all have to be weighed.
Finder combines financial perspective, project structuring and fundraising experience to support the company throughout, working with internal teams, financial institutions and the agents responsible for the operation.
What weighs in the decision
Real case
We describe the situation, never the company's name. We do not disclose amounts raised or terms obtained.
Context
Technology company that had just closed its Series A, with a flipped corporate structure.
Challenge
Funding technology development without consuming the equity raised.
What Finder did
We directed the round's equity to M&A and customer acquisition, and structured technology development as a project eligible for FINEP financing.
Outcome
Shareholder capital now funds growth, not development.
Frequently asked questions
In a direct operation, the company applies to and contracts with the institution itself, such as FINEP or BNDES, which reviews both the project and the credit.
In an indirect operation, funds are channeled through an accredited financial agent (a development bank, state development agency, bank or credit cooperative) that reviews the request, negotiates collateral, takes the credit risk and contracts with the company. At BNDES, direct operations are generally above BRL 20 million, with exceptions under certain lines and programs.
Inovacred is FINEP's program for financing innovation projects on a decentralized basis, through accredited financial agents. The agent reviews the credit, sets the collateral and contracts the loan under the program's rules.
It is generally aimed at small and mid-sized companies. Revenue thresholds, loan amounts and terms vary by agent and by program version.
Typically, product, process or service innovation, technology development, digital transformation, automation and competitiveness projects. Financeable items may include R&D, staff, equipment, technology, civil works and facilities, among others, depending on the line.
Eligibility depends on each program's rules and is the first thing we assess.
Subsidized and incentivized lines draw on public funds and programs, usually with more favorable cost, tenor and grace periods. In return, they require a defined project, compliance with the program's rules, use of funds on approved items and evidence of how the funds were applied.
Conventional bank credit is usually faster and more flexible, but tends to be more expensive and shorter-dated.
Yes. We design and draft the project with the company, build the financial model and organize the information and documents the institution requires. The technical content comes from the company's team; Finder structures it, writes it and checks consistency across project, numbers and documentation.
Yes. We assess the collateral the operation is likely to require and the alternatives available, including guarantee funds where applicable, and prepare the information for the credit review. The decision on collateral rests with the financial institution.
It can, depending on the agreed scope: monitoring disbursements, project execution and the obligations set out in the contract.
After disbursement, the company has to show that the funds were applied to the approved items, with invoices, proof of payment, execution reports and other documents required by the instrument. Finder organizes this documentation and supports the reporting when it is part of the scope.
A description of the project and the planned investment, the most recent financial statements, the current debt position and an indicative timeline. That is enough to identify which alternatives merit analysis.
No. Approval, terms and disbursement depend on the financial institution's review and decision, and on the availability of funds in each program. Our job is to put forward the strongest possible application, and to say plainly when an alternative does not make sense for the company.
Finder is an independent advisor: we work for the company and do not represent FINEP, BNDES or the financial agents.
Contact
Each program has its own eligibility criteria, financeable items, financial terms, collateral requirements and reporting obligations.
In a first conversation, we understand the project, assess its financing needs and identify which alternatives merit analysis.
The first conversation is free of charge.