Tanner Servicios Financieros S.A.

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Project Number: 
Expected Consideration Date by the Board: 
Date Posted: 
Tanner Servicios Financieros S.A. (“Tanner”)
Sponsoring Entity: 
not applicable
Financing Requested: 
Up to US$20 million
Financial Services
Santiago, Chile
Scope Objective: 

Tanner was founded in 1993 under the name Bifactoring by the main shareholders of what was at the time called Banco BHIF (the Said y Massu Group). In 2013, the Capital Group acquired a 27 percent stake in Tanner. Tanner is one of the oldest factoring companies in Chile. Tanner currently offers small and medium-sized enterprises (SMEs) a comprehensive portfolio of financial services through subsidiaries  Tanner Leasing S.A. (99.99%), Tanner Corredores de Seguros Ltda. (70%), and Tanner Corredores de Bolsa de Productos S.A. (100%). Tanner's main lines of business are domestic and international factoring, vehicle loans, leasing, and business loans.

The funds from the IIC will be used to support the growth of Chile’s portfolio of factoring and leasing to SMEs.

Environmental Review: 

Environmental and Labor Issues:

This is a category FI-3 project according to the IIC's Environmental and Social Sustainability Policy because of the low risk of the subprojects in the financial intermediary's current or future portfolio. In order to improve the evaluation of the labor and environmental aspects of its operations, Tanner participated in the IIC's environmental training workshop for financial intermediaries and devised a sustainable management system that includes a policy and procedures for analyzing its clients from an environmental standpoint. Eligible Enterprises financed with IIC funds will be subject to an environmental review and must comply with national environmental and labor laws, regulations, and standards, as well as IIC environmental guidelines. Tanner must also submit annual environmental reports to the IIC indicating the progress made and problems encountered in the implementation of these practices.