Robotic technology company FBR Limited (ASX: FBR) is pleased to announce it has entered into a revolving R&D tax loan facility with FC Capital, in place until 31 December 2024.
The facility will allow FBR to draw down on a monthly basis as needed, up to 90% of its presently earned R&D tax incentive rebates or $4.0 million, whichever is lower at the time. It has an initial interest rate of 8.50% per annum during 2022 and then an interest rate of 8.15% per annum plus the published one month bid rate for the Australian Bank Bill Swap Reference Rate (BBSW) which is currently 0.33% per annum. The facility also carries a one off 1.5% establishment fee and a 3.0% line fee per annum and will place a General Security Agreement over FBR and Fastbrick Engineering Pty Ltd.
