TriLinc Global Impact Fund makes impact investments in Africa and Latin America
TriLinc Global Impact Fund announced today that it has approved a total of USD1.9 million in trade finance facilities to companies in South Africa and Argentina.
This brings the fund’s total financing commitments as of 31 January, 2015 to USD61.7 million for business expansion and socioeconomic development through its holdings in Africa and Latin America.
February 06, 2015 12:09 PM Eastern Standard Time
TriLinc Global Impact Fund has recently approved USD1.9 million in trade finance transactions to companies in South Africa and Argentina.
TriLinc is an impact investing fund that provides growth-stage loans and trade finance to established small and medium enterprises (SMEs) in developing economies where access to affordable capital is significantly limited. Impact Investing is defined as investing with the specific objective of achieving a competitive financial return as well as creating positive, measurable impact on people and communities across the globe.
On 20 January, 2015, TriLinc funded USD1,250,000 as part of an existing USD1,250,000 trade finance facility at a fixed interest rate of 17.5% to a South African dried fruit and nut distributor. The transaction, set to mature on May 22, 2015, is supported by a purchase and repurchase agreement that is secured by specific fruit and nut inventory, as well as receivables. The borrower anticipates that TriLinc financing will support employment generation.
On 28 January, 2015, TriLinc funded USD182,109 as part of an existing USD750,000 trade finance facility at a fixed interest rate of 12.75% to a South African construction materials supplier engaged in importing and distributing plastic piping and fittings for commercial and residential infrastructure purposes. The transaction, set to mature on May 29, 2015, is supported by specific piping and fitting inventory. The borrower anticipates that TriLinc financing will enable it to increase employment opportunities.
On 16 January, 2015, TriLinc funded USD500,000 as part of an existing USD6,000,000 trade finance facility at a fixed interest rate of 10.33% to an Argentine dairy cooperative. The transaction, set to mature on 3 November, 2015, is supported by a purchase contract with a large developed market company. The borrower anticipates that TriLinc financing will support economic growth through job creation, increased exports and increased agricultural productivity.
“With these recent investments, TriLinc continues to strengthen its financing relationships with a portfolio of existing borrowers that seek to create positive economic impact in the developing economies where they operate,” says Gloria Nelund, TriLinc CEO. “By providing additional capital to these trade finance facilities, we are increasing our borrowers’ participation in international commerce and access to the global marketplace.”