Perth robotic technology company FBR Limited (ASX: FBR) has drawn down a further $2.7 million from its revolving R&D tax loan facility provided by FC Capital.
FBR has recently lodged its R&D tax return and is expecting a cash refund of $8.8 million. On this basis, FC Capital has agreed to temporarily increase its loan facility from the previously announced $6.0 million to $8.7 million.
Additional fees incurred are a $5,500 establishment fee for the expanded facility and an increase in interest rate of 3.0% p.a. for the $1.8 million Hadrian lease finance facility.
