Banco Financiero del Perú S.A. Receives IIC Loan of up to US$20 Million to Finance SMEs in Peru
IIC loan will benefit Peruvian SMEs through financial leasing and medium-term loans
Lima, Peru, May 21, 2013 — The Inter-American Investment Corporation (IIC) approved a syndicated loan of up to US$20 million to Banco Financiero del Perú S.A. that will be used to finance loans for financial leasing and other productive activities for small and medium-sized enterprises (SMEs) in the Andean country.
The IIC loan will provide Banco Financiero with an international source of funding to support the SME sector.
“These funds will be used to finance medium-term loans and financial leasing operations for small and medium-sized productive enterprises, a main focus of the bank’s business,” noted Alexander Canales La Torre, manager of Banco Financiero’s long term funding and capital markets division. “Medium- and long-term financing is an important part of our institution’s funding strategy, providing us with good tenors at a reasonable financial cost, and we are happy to continue diversifying our funding with a prestigious institution like the IIC.”
“Banco Financiero will offer financing under conditions that are not readily available in the Peruvian market,” commented Michael Apel, IIC Lead Investment Officer in charge of the operation. “With this operation, we are joining forces with a strong partner to advance the country’s SME sector and support its sustainable growth.”
Banco Financiero is the seventh largest financial institution in Peru in terms of assets and loan operations. With over 40 years’ experience in the market, it started out as a small finance company, moving on to become a regulated bank. The bank has 112 offices throughout the country that offer SMEs financing in the form of traditional medium-term loans and financial leasing operations.
The financing approved consists of an A loan of up US$5 million from the IIC and a B loan of up to US$15 million from other financial partners.
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: Michael C. Apel
Telephone: +1 (202) 623-2521 in Washington, D.C.