Small Costa Rican Business to Strengthen its Position as a Leading Provider of Diagnostic Services for the Food and Agrofood Industry

07/28/2015

IIC loan under FINPYME Credit bolsters the competitiveness of Chaso del Valle S.A.

San José, Costa Rica, July 28, 2015 — The Inter-American Investment Corporation (IIC) approved a loan of US$115,000 to Chaso del Valle S.A., a family business that is a leading provider of diagnostic services for the Costa Rican food and agrofood industry. The loan, under the IIC’s FINPYME Credit program, will enable Chaso to purchase inventories and diagnostics equipment and to pay for certifications services.

“With this financing, the IIC is helping a small Costa Rican company to further strengthen its leading position in the domestic and Central American market,” said Marvin Pacheco, the IIC consultant to the FINPYME Credit program in charge of this operation. “Chaso has high quality standards and incorporates biotechnology into its products to provide tailored solutions for each industry in which it operates.”

FINPYME Credit is a small loans program that offers competitive financing to small and medium-sized enterprises in Latin America and the Caribbean. The loans range from US$100,000 to US$600,000 and are available to businesses from several productive sectors. FINPYME Credit, which is offered in Costa Rica and other countries in the region, supports small companies looking to increase their sales by financing investments in working capital and fixed assets.

Chaso markets diagnostics products, equipment, and services. In 1997, Chaso began its operations by importing diagnostics equipment and tests for animal health. Chaso’s offices are located in San José.

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. 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 inception, the IIC has approved more than 920 loan and equity investments for SMEs and financial intermediaries, for a total of US$5.63 billion. An additional $3.7 billion has been mobilized through cofinancing and syndication agreements. For additional information on the IIC’s activities, visit www.iic.org.

Contact: Marvin Pacheco

Telephone: +503 2233-8900 in San Salvador, El Salvador

Email: marvinp@iadb.org