IIC Facilitates Access to Financing for Peruvian SMEs
Loan of US$2 million to Leasing Total S.A. to provide financing for some 28 eligible projects
Lima, Peru, June 4, 2013 — The Inter-American Investment Corporation (IIC) has approved a loan of up to US$2 million for Leasing Total S.A., the proceeds of which are expected to provide financing to Peruvian small and medium-sized enterprises (SMEs), a segment that, owing to the size of its businesses, tends to be underserved by other financial institutions.
The IIC loan will support Leasing Total’s activities and the growth of its financial leasing portfolio.
According to Sandra Reyes, the IIC’s senior investment officer in charge of the operation, “This loan will improve access to medium-term financing for SMEs, which have difficulty obtaining medium- and long-term loans in Peru’s banking sector.”
Established in 1998, Leasing Total specializes in financial leasing services and is subject to oversight by Peru’s banking authority (Superintendencia de Banca, Seguros y Administradoras de Fondos de Pensiones). Leasing Total offers financing for equipment, machinery, and vehicle leasing operations to SMEs providing services to large corporations active in the infrastructure, construction, mining, and other industries.
This is the IIC’s second operation with Leasing Total. The first, a loan approved in 2010, primarily benefited SMEs operating in the transportation and communications 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. 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: Sandra Reyes
Telephone: +57 (1) 325-7053 in Bogotá, Colombia