IIC Continues to Foster Development of Nicaragua’s Distribution Sector
Loan of US$183,000 to ZAPSA Comercial S.A. will help company grow and stay competitive
Managua, Nicaragua, April 20, 2015 — A loan of US$183,000 from the Inter-American Investment Corporation (IIC) to Nicaraguan plastics distributor ZAPSA Comercial S.A. will help the company purchase the facilities from which it currently operates so it can continue growing in the container and packaging sector.
The loan was approved under FINPYME Credit, the IIC’s flagship program for financing small and medium-sized enterprises (SMEs).
“This is the IIC’s second loan to this company. Both the first loan and this loan contribute to Nicaragua’s economic development while supporting a small business as it continues to expand and develop domestically and regionally,” said Luisa Mayorga, the IIC senior investment associate in charge of the operation.
FINPYME Credit is a small-loans program that provides competitive financing to SMEs in Latin America and the Caribbean. The loans range from US$100,000 to US$600,000 and are available to businesses from various productive sectors. FINPYME Credit is offered in Nicaragua, among other countries of the region, and supports small companies looking to increase their sales by financing investments in working capital and fixed assets.
ZAPSA, which began operations in Nicaragua in 2004, sells plastic materials that are used for packaging and shipping foods and beverages. Its main products are heat-shrink and palletizing plastic, which it sells to major enterprises in Nicaragua and Honduras, such as the bottling operations of Coca-Cola and Cervecera de Nicaragua.
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 SMEs. The Corporation provides companies with financing in the form of equity investments, loans, and guarantees, as well as with technical assistance, advisory services, and knowledge products. In 2014, the IIC approved 64 operations totaling $426.3 million. Since its founding, the IIC has approved more than 920 loans and equity investments in SMEs and financial intermediaries, totaling US$5.63 billion. An additional $3.7 billion has been mobilized through cofinancing and syndication agreements. For more information on the IIC, visit www.iic.org.
Contact: Luisa Mayorga
Telephone: +505 2264 9140 in Managua, Nicaragua