IIC Grants Loan of MX$50 Million for Financial Leasing Services in Mexico
Loan to Unifin Financiera will provide financing for 13 Mexican SMEs
Mexico City, Mexico, May 29, 2013 — The Inter-American Investment Corporation (IIC) and Unifin Financiera S.A.P.I. de C.V. SOFOM ENR have signed a loan agreement for up to MX$50 million (approximately US$3.9 million) to finance at least 13 loans to small and medium-sized enterprises (SMEs) in a variety of productive sectors in Mexico.
The IIC loan in local currency will provide Unifin with funding to help SMEs meet their working capital needs or purchase productive assets.
“This financing will enable the company to expand into new regions of the country, optimize its long-term funding sources, and meet the local currency financing needs of its clients in various sectors of the economy,” noted Sandra Reyes, IIC senior investment officer in charge of the operation. “For the IIC, the loan represents an opportunity to continue supporting the development of Mexican SMEs.”
Unifin is one of Mexico’s leading nonbank financial institutions for leasing and factoring operations and has over 20 years’ experience in the market. Its operations, located primarily in the Mexico City metropolitan area, focus on pure financial leasing and factoring services to help SMEs acquire and use movable productive assets.
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