IIC Supports Technology Development in Paraguay
Puntopy S.A. receives US$400,000 subordinated loan under FINPYME Credit to develop services for web-based businesses
Asunción, Paraguay, March 27, 2014 — The Inter-American Investment Corporation (IIC) and Puntopy S.A. have signed a loan agreement for up to US$400,000. The Paraguayan company, which specializes in web design and web based business development, will use the loan proceeds to grow its business.
The funds will be used to finance equipment purchases, expand technical services, and refinance short-term debt.
“This financing will enable us to grow in new areas, purchase equipment, and expand areas of service where we have identified a need among clients or in the market,” commented Puntopy CEO Sergio Auad. “Working with an international organization gives us great satisfaction, as it makes us part of a select group of businesses that collaborate with the IIC, offering our company major advantages.”
“Through this loan, the IIC is providing incentives for technology development and innovation and offering Puntopy the funds it needs to continue pursuing growth, efficiency, and competitiveness,” noted Cristina Paredes, IIC investment associate in charge of the operation.
Since launching its website development operations 13 years ago, Puntopy has added online business design and strategic development services, using mobile technology, social media, and web-based advertising campaigns. Puntopy is a leader in its market segment and the only such company offering full customer service.
The financing approved by the IIC is part of FINPYME Credit, a small-loans program for small and medium-sized enterprises (SMEs) in Latin America and the Caribbean. FINPYME Credit provides loans ranging from US$100,000 to US$600,000 and is available to companies in a variety of productive sectors looking to increase their sales through loans for working capital and investments in fixed 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 SMEs. We help companies streamline management processes and provide them with financing in the form of equity investments, loans, and guarantees, as well as innovative technical assistance, advisory services, and knowledge products. In 2012, the IIC approved more than 70 operations totaling some US$400 million. Since its inception in 1989, the IIC has approved approximately 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: Cristina Paredes
Telephone: +595 (21) 616-2320