El Salvador-Based S&L Apoyo Integral and WBC Close on $10 Million DFC-Guaranteed Loan

Mar 08, 2021


FOR IMMEDIATE RELEASE


WorldBusiness Capital Closes $10 million DFC-Guaranteed Loan to El Salvador’s Apoyo Integral for Micro, Small and Medium Business Lending in Rural and Suburban Communities

 

SAN SALVADOR, EL SALVADOR, March 8, 2021 - WorldBusiness Capital, Inc. (WBC) announced the closing of a $10 million, 10-year commercial loan to El Salvador-based Sociedad de Ahorro y Credito Apoyo Integral, S.A. (“Apoyo Integral”). WBC’s loan is guaranteed by U.S. International Development Finance Corporation (DFC), the U.S. Government agency that helps American businesses invest in emerging markets. Proceeds of the loan will be used by Apoyo Integral to expand microloans, working capital, mortgages, and home improvement loans for low-income entrepreneurs and small business owners located in rural communities throughout El Salvador.

 

Juan Pablo Meza, General Manager of Apoyo Integral, commented “We are happy to finally subscribe to this loan facility with our friends from WBC and with the guarantee provided by the USDFC.  It is quite the accomplishment for us because it will not only allow us to better support our micro and small business customers but with the 10 year term it constitutes an excellent fit for our credit portfolio”

 

Ricardo Croes, WBC’s Executive Vice President and Chief Lending Officer for Latin America, remarked, “We are very pleased to work with Apoyo Integral to support their efforts to foster social and economic development by providing much needed financing, via loans to microenterprises and SME’s, supporting development in communities throughout El Salvador.

   

About Apoyo Integral

Sociedad de Ahorro y Credito Apoyo Integral, S.A. (http://www.integral.com.sv), established in 2002, is a

regulated non-bank financial institution (NBFI) that operates as a Savings and Loan Association (Sociedad de Ahorro y Credito) rooted in core developmental values, focused on fostering sustained economic growth through financial inclusion. Apoyo Integral has an 18-year track record serving the low-income segment of the population in El Salvador through its micro and small enterprise and individual lending capabilities.  Its’ more than 20,000 active credit clients are serviced by 449 employees across 26 branches throughout El Salvador.

 

About WorldBusiness Capital, Inc.

WBC (www.worldbusinesscapital.com), headquartered in Hartford, CT, USA, is a regulated commercial finance company that offers flexible term loans helping small and medium-sized businesses in the manufacturing, distribution, logistics, transportation, food processing, packaging, renewables, financial services, and other sectors compete in the global marketplace. Founded in 2003, WBC is a direct lender staffed by multilingual professionals with many years of experience in cross-border trade and project finance. The WBC team has a proven track record of successfully-closed loans in the U.S. and emerging markets around the world, with a focus on lending in Latin America and the Caribbean, Central and Eastern Europe, Asia, Africa, and the Middle East.

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