FINPYME Credit Promotes Distribution Sector in Nicaragua
US$130,000 loan will support the strengthening and competitiveness of ZAPSA Comercial S.A.
Managua, Nicaragua, April 4, 2013 — The Inter-American Investment Corporation (IIC) and ZAPSA Comercial, S.A. have signed a loan agreement for up to US$130,000 that will help the Nicaraguan company become more competitive in the container and packaging sector. Part of the loan will be used to refinance short-term debt.
“With this financing from the IIC, ZAPSA will streamline its internal procedures to boost its competitiveness in the local and regional market,” noted Luisa Mayorga, IIC senior investment associate in charge of the operation. “The company has a unique customer and provider feedback model that enables it to tailor its products to the needs of its clientele.”
ZAPSA, which began operations in Nicaragua in 2004, sells plastics used in the packaging and shipment of foods and beverages. Its main products are heat shrink and palletizing plastic, which it sells to major Nicaraguan and Honduran enterprises, including the companies that bottle Coca-Cola and Pepsi products. ZAPSA is currently considering plans to expand its business in Central America and diversify its product lines.
The loan is financed by FINPYME Credit, the IIC’s flagship program to support SMEs in Latin America and the Caribbean through working capital and investments in fixed assets. Loans under the program range from US$100,000 to US$600,000 and are available to businesses from different productive sectors.
About the IIC
The IIC, a member of the Inter-American Development Bank (IDB) Group, promotes private-sector development in Latin America and the Caribbean with a focus on small and medium-sized enterprises (SMEs). We help companies streamline management processes and provide them with financing in the form of equity investments, loans, and guarantees. In 2012, the IIC approved 73 operations totaling US$378.9 million. Throughout our history, we have approved nearly 800 direct loans to SMEs and financial intermediaries, for a total of US$4.8 billion. An additional US$2.8 billion has been mobilized through cofinancing and syndication agreements. For more information on IIC activities, visit www.iic.org.
Contact: Luisa Mayorga
Telephone: + 505 (2) 264-9140 in Managua, Nicaragua