IIC Signs A US$250,000 Loan With Beverage Company In Nicaragua Under The Small Business Revolving Line (SBRL)
07/29/2007The IIC has approved financing for a total of US$935,000 under the SBRL in Nicaragua since 2006
Managua, Nicaragua- On July 30, 2007, the Inter-American Investment Corporation (IIC) signed a US$250,000 loan agreement with Kola Shaler Industrial, S.A., under the Small Business Revolving Line. Kola Shaler Industrial, S.A. bottles carbonated beverages. With this loan, the company will be able to increase its production capacity and its exports.
The SBRL is a financial product approved in 2006 that enables the IIC to offer standardized small loans to eligible small enterprises under an expedited approval process. The SBRL is currently being offered in Costa Rica, Honduras, Nicaragua, Paraguay, and Uruguay. It targets private companies operating in the agribusiness, manufacturing, wholesale, retail, service, and construction sectors, as well as other sectors that contribute to the local economy.
Signing for Kola Shaler Industrial, S.A. were shareholders Aurora Robleto de Cárdenas and Julio Cárdenas Robleto, who said: "IIC’s financing will enable us to expedite our export process so that expatriate Nicaraguans can ease their thirst and their nostalgia, and to give foreign consumers an authentic taste of Nicaragua." Mr. Roberto Villavicencio, IIC local counsel, signed on behalf of the IIC. The IIC has a local presence in Nicaragua.
The Inter-American Investment Corporation is a multilateral financial institution that is part of the Inter-American Development Bank Group (IDB Group). It provides financing (in the form of equity investments, loans, guarantees, and other instruments) and advisory services to private enterprises in Latin America and the Caribbean. For more information on the IIC's activities, please visit www.iic.int.
Contact: Johnny Jirón (in Nicaragua)
Telephone: + (505) 267-0831