IIC Approves Loan to InterBanco for Financing Guatemalan SMEs
Loan of US$5 million will fund loans to small and medium-sized enterprises in all productive sectors
Washington, D.C., September 9, 2014 — The Inter-American Investment Corporation (IIC) approved a senior loan of up to US$2 million and a subordinated loan of up to US$3 million to Banco Internacional S.A. (InterBanco) to support small and medium-sized enterprises (SMEs) in Guatemala through financing for working capital, modernization, and business expansion.
“We are pleased to support InterBanco’s lending activities in Guatemala as it continues to develop its lines of business oriented toward SMEs. The bank is expected to grow its total SME portfolio by 8% annually, or a cumulative total of more than 50% by 2020,” said Ana Rosa Echeverri, the senior IIC investment officer in charge of the operation.
InterBanco was founded in 1975. Toward the end of 2012, it changed its corporate image and name to InterBanco. With more than 650 employees and 58 branches, it makes “Business Centers” available to its clients, since it has a cutting edge technology platform. InterBanco offers innovative, flexible, and secure financial solutions to its clients. It provides personalized attention through expert advisers ready to design tailored financial solutions to meet both business and personal needs.
This will be the IIC’s second loan to InterBanco. The IIC has supported the bank in order to promote the development of SMEs in various sectors of the economy, including commerce, manufacturing, agriculture, services, and construction, many of which are oriented toward exports.
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 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: Ana Rosa Echeverri
Telephone: +57 (1) 325-7053 in Bogotá, Colombia