IIC Boosts Honduran Household Appliance Market with Loan of up to US$155,000
Financing under the FINPYME Credit program will expand business opportunities for Comercial Nasareth S. de R.L. and generate new sources of employment in Honduras
Tegucigalpa, Honduras. The Inter-American Investment Corporation (IIC) and Comercial Nasareth S. de R.L. have signed a loan agreement for up to US$155,000 that will help the Honduran company boost its competitiveness in the household appliance sector.
The company will use this FINPYME Credit program loan to purchase inventory for the wholesale and retail sale of its own line of major household appliances. It will also refinance part of its short-term debt.
“With this operation, the IIC will increase its support for SME development in Honduras and help strengthen Comercial Nasareth, creating more than 50 direct and indirect jobs,” noted Luisa Mayorga, IIC senior investment analyst in charge of the operation.
Established in 1998, Comercial Nasareth sells household appliances, living room and kitchen furniture, electronic devices, computers, and other home goods. It distributes some of the world’s leading brands, among them Sony, Toshiba, and Nokia, to the Honduran market.
FINPYME Credit supports SMEs in Latin America and the Caribbean looking to boost their sales 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 in 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 2011, the IIC reached the symbolic one-billion-dollar mark in disbursements of own and third-party funds. Throughout our history, we have benefited more than 1.6 million SMEs in Latin America and the Caribbean. For more information on the IIC’s activities, visit www.iic.org.
Contact: Luisa Mayorga
Telephone: +505 (2) 264-9140 in Managua, Nicaragua