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India-Based Asirvad Microfinance Obtains $15 Million Loan from WBC to Support Rural Businesses

Tue, 15 Jun 2021 20:09:48 GMT

FOR IMMEDIATE RELEASE

India-Based Asirvad Microfinance Obtains $15 Million Loan from WorldBusiness Capital to Support Rural Women-Owned Businesses

CHENNAI, INDIA, June 15, 2021 - WorldBusiness Capital, Inc. (WBC) announced the recent closing of a $15 million commercial loan to India’s Asirvad Microfinance Limited. WBC’s loan is guaranteed by United States International Development Finance Corporation (DFC), America’s development bank. DFC partners with the private sector to finance solutions to critical challenges involving energy, healthcare, infrastructure, and technology throughout the developing world. Funding from WBC will enable Asirvad to expand its business of providing small loans that help low-income women entrepreneurs in rural areas start and expand businesses. Asirvad employs a group lending model where low-income women guarantee each other’s loans.

Mr. Raja Vaidyanathan, Managing Director of Asirvad Microfinance Ltd. said, “This transaction with an international financial institution, coming at this challenging juncture, certainly gives a boost to the microfinance sector in India and reiterates the resilience Asirvad has always shown, and the speed at which it bounces back.”

Mr Yogesh Udhoji, Asirvad’s CFO added, "With this funding, we look forward to helping rural women with economic opportunities to transform the quality of their lives.”

Rob Monyak, WBC’s Executive Vice President and Chief Lending Officer for Eurasia/Africa Lending, said, “We are excited to have the opportunity to support this dynamic financial institution that has constructed a viable business model to meet the needs of woman-owned enterprises operating in rural areas. Asirvad plays a vital role in providing this underbanked segment of the market with access to the financing they need to establish and grow their businesses.

About Asirvad Microfinance Limited

Asirvad Microfinance Limited ( www.asirvadmicrofinance.co.in ), was established in 2007, is headquartered in Chennai, India, and is licensed and regulated by the Reserve Bank of India as a Non-Bank Finance Company-Microfinance institution (NBFC-MFI). Acquired by Manappuram Finance Limited in 2015, it is the fourth largest MFI in India today. The company is engaged in the pursuit of empowering and fulfilling aspirations of millions who are excluded from the formal financial system. Providing loans to approximately 2.6 million women borrowers, Asirvad’s 7,000 employees service clients at more than 1,000 branches in 23 states in India.

About WorldBusiness Capital, Inc.

WBC ( www.worldbusinesscapital.com ), headquartered in Hartford, Connecticut, USA, is a regulated commercial finance company and direct lender that offers long-term loans helping businesses, entrepreneurs, investment funds, and financial institutions capitalize on global growth opportunities. Founded in 2003, WBC is staffed by multilingual professionals with many years of experience in corporate, trade and project finance, and a track record of successfully closed loans in the United States and around the world. WBC’s Eurasia/Africa Lending Team is led by Rob Monyak, Executive Vice President & Chief Lending Officer; Rohit Choudhary, Senior Vice President; and George Thompson, Senior Vice President.

U.S. Commerce Secretary Names CEO Silvers to Trade Finance Advisory Council

Tue, 04 May 2021 20:07:32 GMT

FOR IMMEDIATE RELEASE

Secretary of Commerce Raimondo Appoints WorldBusiness Capital CEO Silvers to U.S. Department of Commerce Trade Finance Advisory Council

WASHINGTON, D.C., May 4, 2021 - Brett N. Silvers, CEO of WorldBusiness Capital, Inc. (WBC), has been appointed by the Secretary of Commerce, Gina M. Raimondo, to serve as a member of the U.S. Department of Commerce Trade Finance Advisory Council (TFAC) through August 2022. Secretary Raimondo noted that Mr. Silvers’ “experience and advice will be helpful in developing solutions that can effectively address and enhance a full range of financing options for U.S. exporters.” The TFAC serves as the advisory body to the Secretary of Commerce on policy matters such as access to trade finance for U.S. exporters, including small and medium-sized enterprises, and their foreign buyers. The TFAC are private sector stakeholders convened by the Department of Commerce to identify and develop solutions to trade finance challenges.

Mr. Silvers also currently serves on the U.S. Department of Commerce Industry Trade Advisory Committee on Small and Minority Business (ITAC 9), a position he has held since 2007. On this Committee, Mr. Silvers represents the viewpoint of WorldBusiness Capital, Inc. and the U.S. finance industry by advising the Department of Commerce and the Office of the United States Trade Representative on trade policy development and pursuing trade agreements that benefit U.S. businesses, workers, and the economy.

In 2019 and 2020, Mr. Silvers served as an appointee of the U.S. Department of Commerce to the U.S.-India CEO Forum. The Forum brings together leaders of the respective business communities of the United States and India to discuss issues of mutual interest, particularly ways to strengthen the economic and commercial ties between the two countries, and to communicate their joint recommendations to the U.S. and Indian governments.

In 2018, WorldBusiness Capital, Inc. received the U.S. Department of Commerce President’s “E” Award for Exports in recognition of the company’s significant contributions to an increase in U.S. exports. According to then Secretary of Commerce Wilbur Ross, “WorldBusiness Capital, Inc. has demonstrated a sustained commitment to export expansion…and (the company’s) achievements have undoubtedly contributed to national export expansion efforts that support the U.S. economy and create American jobs.”

About WorldBusiness Capital, Inc.

WBC ( www.worldbusinesscapital.com ), headquartered in Hartford, Connecticut, is a regulated commercial finance company that offers long-term loans helping businesses, entrepreneurs, and investment funds capitalize on global growth opportunities. Founded in 2003, WBC is a direct lender staffed by multilingual professionals with many years of experience in corporate, trade, and project finance. The WBC team has a proven track record of successfully-closed loans in the U.S. and around the world.

Ecuador Cooperative Jardin Azuayo Obtains Loan of $10 Million From WBC Guaranteed by DFC

Tue, 04 May 2021 16:56:22 GMT

FOR IMMEDIATE RELEASE

WorldBusiness Capital Closes $10 Million DFC-Guaranteed Loan to Cooperativa Jardin Azuayo Supporting Micro and Small Business Financing in Ecuador’s Southern Rural Communities

CUENCA, ECUADOR, December 11, 2020 - WorldBusiness Capital, Inc. (WBC) announced the closing of a $10 million, 10-year commercial loan to Ecuador-based Cooperativa de Ahorro y Crédito Jardin Azuayo Ltda. (Jardin Azuayo). WBC’s loan is guaranteed by U.S. International Development Finance Corporation (DFC), America’s development bank, which partners with the private sector to finance solutions to the most critical challenges facing the developing world today. Proceeds of WBC’s $10 million loan will be used by Jardin Azuayo to support their co-op members by providing loans to micro-enterprises and SMEs in Ecuador.

Juan Carlos Urgiles Martinez, CEO of Jardin Azuayo, commented, “We greatly appreciate the trust placed on us by WBC and DFC as well as the financial support provided to our institution. The funds made available to us will be used to continue to further our mission to improve the well-being of our members and the community we serve through inclusive and sustainable financial services.”

David Santos, WBC’s Senior Vice President for Lending in Latin America, remarked, “We are very pleased to work with Jardin Azuayo in their effort to foster social and economic development by providing much needed financing, via loans to micro-enterprises and SMEs, supporting development in communities throughout southern Ecuador.”

About Cooperativa de Ahorro y Crédito Jardin Azuayo Ltda.

Jardin Azuayo ( http://www.jardinazuayo.fn.ec ) was founded in February 1996 in the context of a rebuilding effort following the 1993 La Josefina natural disaster in Paute, Ecuador. The Cooperative was founded by 120 original members with the goal of offering competitive interest rates on deposits while promoting investment in the local community and improving the working conditions of its members. Jardin Azuayo has since grown to be the second-largest Cooperative in Ecuador in terms of asset size, built upon the principles of social inclusion, financial independence, education, and community involvement.

About WorldBusiness Capital, Inc.

WorldBusiness Capital ( www.worldbusinesscapital.com ), headquartered in Hartford, Connecticut, USA, is a regulated commercial finance company that offers long-term loans helping middle market companies in a variety of industries capitalize on global growth opportunities. 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 United States and around the world.

WBC Appoints Anne Evans as Senior Advisor to Expand Financing for Manufacturers

Fri, 30 Apr 2021 16:49:54 GMT

FOR IMMEDIATE RELEASE

WorldBusiness Capital Appoints Anne Evans as Senior Advisor to Expand U.S. and International Financing Programs for the Manufacturing and Industrial Sectors

HARTFORD, Connecticut, April 30, 2021 - Anne Evans, CEO of Connecticut-based Universal Strategies Limited and former Director at the U.S. Department of Commerce International Trade Administration, has been appointed Senior Advisor at Hartford’s domestic and international commercial lending institution, WorldBusiness Capital, Inc. (WBC). Evans, with more than 40 years of experience in the U.S. and global marketplace with senior government and private sector business and trade positions, will provide market strategy and operations advisory services to the WBC team.

“With WBC’s enhanced focus on offering creative long-term lending products for the manufacturing and industrial sectors, particularly in the area of advanced manufacturing technology, Anne’s substantial business network and her strong background in domestic and international manufacturing and marketing will be a great asset to WorldBusiness Capital and our manufacturing client base. As a business person who grew her own manufacturing companies in the United States and overseas, and then as a senior government economic development official, Anne appreciates how long-term debt financing made available to this sector with attractive terms and conditions will support the growth of U.S. and overseas companies,” according to WBC’s CEO, Brett Silvers.

About Anne Evans

Anne Evans has more than 40 years of experience in the domestic and global marketplace with senior government and private sector business and trade positions. She has led numerous trade missions worldwide and organized high level business, trade, and procurement events at the White House and at U.S. foreign embassies.

In 1989, Anne was called on by the United Kingdom Government to lead the national solution for the nation’s waste tire recovery program. She successfully developed, financed, and operated an $86 million waste tire-fueled power station Wolverhampton, West Midlands. To accomplish this, she brought the entire UK tire industry together to support a national program for the environmentally friendly recovery of waste tires. Along with being the initial developer and investor, she attracted a major equity investment of US$25 million and debt financing of US$61 million.

Anne was recognized by the tire industry and awarded the Tire Industry Pioneer Award for her innovation and leadership in waste tire recovery. She was the winner of the 2020 Lifetime Achievement Award from the Hartford Business Journal. Her businesses and achievements have been highlighted in articles in international publications including The Financial Times, The Wall Street Journal, The New Yorker, The (London) Telegraph, and Dunn and Bradstreet Reports.

About WorldBusiness Capital, Inc.

WBC ( www.worldbusinesscapital.com ), headquartered in Hartford, CT, is a regulated commercial finance company that offers loans helping middle market companies capitalize on global growth opportunities.

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

Mon, 08 Mar 2021 17:54:44 GMT

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.

WBC Provides $15 Million to India’s Avanse Financial for Educational Loan Programs

Wed, 30 Sep 2020 17:00:11 GMT

WorldBusiness Capital, Inc. (WBC) announced the closing of a $15 million, 10-year commercial loan to India’s Avanse Financial Services Limited (Avanse). WBC’s loan is guaranteed by the United States International Development Finance Corporation (DFC), the U.S. Government agency that helps small and medium businesses invest in emerging markets. Funds from the loan will enable Avanse to expand its business of making educational loans to Indian students pursuing educational opportunities in India and other countries.

WBC, CohnReznick, Robinson+Cole Host Webinar on Loans for Mexican Operations of U.S. Firms

Tue, 22 Sep 2020 17:03:34 GMT

Please join us for a discussion about an innovative debt financing option for U.S. companies planning to expand their operations in Mexico. With WBC’s unique long-term loan program, U.S. companies no longer have to use their credit availability with U.S. lenders to finance Mexican subsidiaries and affiliates: WBC’s loans are secured only by assets in Mexico. Our panel will be moderated by Jeff White, Partner at Robinson+Cole, and includes Jeffrey W. Rossi, Managing Partner at CohnReznick, and Brett N. Silvers, President & CEO of WorldBusiness Capital, Inc. WBC’s experienced Mexico Lending Team also will be available to answer questions.

DFC’s $3.6 Billion of New Q4 Investments Include Guarantees Supporting Four WBC Loans

Wed, 09 Sep 2020 17:05:14 GMT

The U.S. International Development Finance Corporation (DFC) Board of Directors has approved investments this quarter totaling more than $2.5 billion across nine projects that will advance development in Africa, Latin America, and emerging markets across the globe. An additional 30 investments totaling more than $1 billion, including guaranties for WBC loans in Colombia, Ecuador, El Salvador, and India totaling $45 million, were approved by the agency since its last quarterly Board meeting in June, bringing total investments approved over the quarter to more than $3.6 billion – DFC’s largest quarter ever.

Mexico Takes the Lead! And Stands to Reap Benefits from Shifting Global Supply Chains

Thu, 02 Jul 2020 17:07:12 GMT

A lead change in soccer is an exciting time…assuming of course that your team has just taken the lead. You cheer and hope that your team can hold the lead. In international trade and investment, the game has been ongoing for decades. And the U.S.-Mexico team has been a dominant team on the field. The new United States-Mexico-Canada Agreement (USMCA) was implemented on July 1st. Mexico is now well-positioned to benefit from shifts in global supply chains brought about today’s unprecedented economic and health uncertainties. A 2020 PwC study estimates that U.S. manufacturers who move production from China could cut operating costs by an additional 23% if they near-shore to Mexico.

Gotham Greens High-Tech Facilities in Baltimore and Providence Financed by WBC

Tue, 12 May 2020 17:09:24 GMT

FOR IMMEDIATE RELEASE

WorldBusiness Capital Finances New High-Tech Greenhouses in Baltimore and Providence for Gotham Greens, Worldwide Leader in Commercial-Scale Indoor Agriculture

BALTIMORE, MARYLAND and PROVIDENCE, RHODE ISLAND, May 12, 2020 - WorldBusiness Capital, Inc. (WBC) salutes the recent openings of two new, state-of-the-art 100,000 square foot greenhouse facilities owned and operated by Gotham Greens in Baltimore, MD and Providence, RI. The greenhouses use advanced agricultural growing methods, including hydroponics, data-driven climate control intelligence and renewable energy, while using 95 percent less water and 97 percent less land than conventional farming. The WBC team provided long-term financing for these projects, which are located on former industrial sites in both cities.

During the grand opening for its Providence greenhouse held in November 2019, Viraj Puri, Gotham Greens’ Co-Founder and CEO, noted that the financial support provided by WorldBusiness Capital has enabled Gotham Greens to reach desirable new geographical markets and further the company’s mission of transforming how and where fresh produce is grown.

Robert Monyak, WBC’s Executive Vice President & Chief Lending Officer, said, “WBC is excited to have the opportunity to support the expansion of this innovative, dynamic company. Gotham Greens is at the nexus of sustainable agriculture, food production, and urban redevelopment. We are proud to be a part of their ongoing success story.”

About Gotham Greens

Gotham Greens is a pioneer in indoor agriculture and a leading produce and fresh food company. Through its national network of climate-controlled, data-driven greenhouses, Gotham Greens grows and sells long-lasting, delicious leafy greens and herbs along with a line of fresh salad dressings and sauces to retail, restaurant and foodservice customers year-round. Founded in 2009 in Brooklyn, N.Y., Gotham Greens now operates 500,000 square feet of hydroponic greenhouses across five U.S. states with more than 300 team members. Learn more about Gotham Greens’ mission to transform how and where fresh produce is grown at www.gothamgreens.com .

About WorldBusiness Capital, Inc.

WBC ( www.worldbusinesscapital.com ), headquartered in Hartford, CT, USA, is a government-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 United States and in emerging markets throughout Latin America, Eurasia, Africa, and the Indo-Pacific.

WBC’s Lending Group is headed by Rob Monyak, Executive Vice President & Chief Lending Officer; Rohit Choudhary, Senior Vice President; Christian Schoellauf, Senior Vice President; and George Thompson, Senior Vice President.

WBC Closes $5 Million DFC-Guaranteed Loan to Southern Mexico’s KapitalMujer

Fri, 27 Mar 2020 17:11:21 GMT

WorldBusiness Capital, Inc. (WBC) announced the closing of a $5 million, 7-year long-term loan to Mexico-based KapitalMujer, S.A. de C.V., SOFOM ENR (KapitalMujer). WBC’s loan is guaranteed by U.S. International Development Finance Corporation (DFC), America’s development bank. DFC partners with the private sector to finance solutions to the most critical challenges facing the developing world today. Proceeds of WBC’s loans will be used by KapitalMujer to improve the quality of life in low-income, rural communities. The loans support many women entrepreneurs and women-owned businesses in the Central and Southeast regions of Mexico.

WorldBusiness Capital Closes $10 Million OPIC Financing for Mexican Micro-Lender Finreal

Mon, 06 Jan 2020 18:12:46 GMT

WorldBusiness Capital, Inc. (WBC) announced the closing of a $10 million, 10-year commercial term loan to Mexico-based Financiera Realidad, S.A. de CV SOFOM, ENR (Finreal). WBC’s loan is guaranteed by U.S.International Development Finance Corporation (DFC), the U.S. Government global development agency that helps American businesses invest in emerging markets. Proceeds of the loan will be used by Finreal to continue to fund the underserved microcredit market in Mexico.

Mohegan Renewable Energy in Mississippi Receives WBC Loans of $7.5 Million Guaranteed by USDA

Tue, 15 Oct 2019 17:14:30 GMT

WorldBusiness Capital, Inc. (WBC) announced the closing of $7.5 million in long-term financing for Mohegan Renewable Energy (MS) LLC (MRES), a manufacturer of utility-grade wood pellets and a business diversification vehicle of The Mohegan Tribe of Connecticut. WBC’s funding is being used for equipment acquisition, facilities improvement, and operation of an existing commercial scale manufacturing plant for the production of wood pellets exported to the United Kingdom. WBC’s loan is guaranteed by the U.S. Department of Agriculture (USDA) under the Business and Industry (B&I) Guaranteed Loan Program.

Small and Midsize Firms with Global Ambitions Find Financing and Expertise in Connecticut

Mon, 23 Sep 2019 17:16:54 GMT

When a husband and wife team took over an embryonic Connecticut food manufacturing business, they had a vision for growing it into a much larger operation. The couple had a solid base: a fully integrated operation with a production facility in India and established distribution to the U.S., Canada, and Australia. But to substantially grow the enterprise, they needed financing – something not easy to come by, since traditional banks typically offer international lending only for larger, more established companies. Enter Hartford-based WorldBusiness Capital.

Mexico’s Manufacturing Supply Chain Summit Generates Interest in WBC Loan Programs

Tue, 07 May 2019 17:20:51 GMT

WorldBusiness Capital, Inc. (WBC), a top lender to middle market businesses, projects and financial institutions in Mexico, attracted significant interest in its loan programs during the 11th Annual Mexico Manufacturing Supply Chain Summit held in March in El Paso, Texas. WBC was an active participant in the conference, which is sponsored by the international business publication, MexicoNow. WBC focuses on lending to businesses and projects in Mexico with significant growth potential, including the automotive, aerospace, electronics, and medical sectors.

WorldBusiness Capital Closes $7.5 Million of USDA-Guaranteed Loans to Seitz in Connecticut

Tue, 07 May 2019 17:18:33 GMT

WorldBusiness Capital, Inc. (WBC) announced the closing of $7.5 million in long-term financing for Seitz LLC, a leading manufacturer of custom plastic injection molded components founded in 1949 and serving a wide range of industries. WBC’s financing includes a $5 million 15-year loan to re-finance existing high-cost short-term debt, and a $2.5 million 15-year loan for facility improvements and purchases of new production equipment. Both WBC loans are guaranteed by the U.S. Department of Agriculture (USDA) under its Business and Industry (B&I) Guaranteed Loan Program.

WorldBusiness Capital Closes Second $10 Million OPIC Loan to Mexico’s Operadora Mega

Mon, 08 Apr 2019 17:22:36 GMT

WorldBusiness Capital, Inc. (WBC) announced the closing of a new commercial term loan of $10 million for Mexico’s Operadora de Servicios Mega, S.A. de C.V. SOFOM, E.R. (Operadora Mega). WBC’s loan is guaranteed by Overseas Private Investment Corporation (OPIC), the U.S. Government agency that helps American businesses invest in emerging markets. Proceeds of WBC’s loan will enable Operadora Mega to expand its lending capacity for loans and leases to small and medium-sized businesses throughout Mexico. This is WBC’s second loan to Operadora Mega.

WorldBusiness Capital Makes Bancomext Loan to Expand Wolverine’s Operations in Mexico

Tue, 02 Apr 2019 17:24:50 GMT

WorldBusiness Capital, Inc. (WBC) announced the closing of an $8.5 million, 10-year commercial term loan to Michigan-based Wolverine Metal Stamping, Inc. (Wolverine). WBC is the only U.S. financial institution that has a framework agreement for loan guarantees with Bancomext, the Mexican Government’s export credit and development agency that finances Mexican companies competing in international markets. Proceeds of WBC’s loan will be used by Wolverine to expand the production capacity of its operations in Mexico by financing the acquisition of new equipment, inventory purchases, and related working capital needs.

WorldBusiness Capital Closes $8 Million of USDA-Guaranteed Loans to Grand Island in New York

Thu, 21 Mar 2019 17:27:18 GMT

WorldBusiness Capital, Inc. (WBC) announced the closing of $8 million in permanent long-term financing for a newly-constructed 53,000 sq. foot Holiday Inn Express hotel in Grand Island, New York, located in close proximity to Niagara Falls. The project’s sponsors include Grand Island Hotels, LLC and the experienced hotel management firm, Rudra Management, Inc. WBC’s financing is guaranteed by the U.S. Department of Agriculture (USDA) under its Business and Industry (B&I) Guaranteed Loan Program.

WorldBusiness Capital Closes $15 million OPIC-Guaranteed Loan to Alternativa in Mexico

Sun, 24 Feb 2019 18:31:04 GMT

WorldBusiness Capital, Inc. (WBC) announced the closing of a $15 million, 10-year commercial loan to Mexico-based Alternativa 19 del Sur, S.A. (Alternativa). WBC’s loan is guaranteed by Overseas Private Investment Corporation (OPIC), the U.S. Government agency that helps American businesses invest in emerging markets. Proceeds of the loan will be used by Alternativa to significantly expand its funding of the micro-credit market, with a focus on providing home improvement loans and credit products for women-owned businesses in the underserved Southeast region of Mexico.

WorldBusiness Capital Closes $12 Million OPIC-Guaranteed Loan to Progresemos in Mexico

Tue, 29 Jan 2019 18:30:04 GMT

WorldBusiness Capital, Inc. (WBC) announced the closing of a $12 million, 8-year commercial loan to Mexico City-based Financiamiento Progresemos, S.A. de C.V. SOFOM, E.N.R. (Progresemos). WBC’s loan is guaranteed by Overseas Private Investment Corporation (OPIC), the U.S. Government agency that helps American businesses invest in emerging markets. Proceeds of WBC’s loan will be used by Progresemos to expand its lending business to meet the significant demand for capital access from Mexican entrepreneurs and SMEs, especially women-owned businesses.

Department of Commerce Appoints Silvers to U.S.-India CEO Forum

Thu, 25 Oct 2018 17:32:36 GMT

The U.S. Department of Commerce has appointed Brett N. Silvers, President and CEO of WorldBusiness Capital, Inc. (WBC), to serve as a U.S. representative to the United States-India CEO Forum. The Forum will allow private sector members to develop and provide recommendations to the two governments and their senior officials that reflect private sector views, needs, concerns, and suggestions about the creation of an environment in which their respective private sectors can partner, thrive, and enhance bilateral commercial ties to expand trade and economic links between the United States and India.

WorldBusiness Capital Closes $15 Million OPIC-Guaranteed Loan to Tengri Bank in Kazakhstan

Tue, 23 Oct 2018 17:34:49 GMT

WorldBusiness Capital, Inc. (WBC) announced the closing of a $15 million, 10-year commercial loan to Tengri Bank JSC (Tengri) of Kazakhstan. WBC’s loan is guaranteed by Overseas Private Investment Corporation (OPIC), the U.S. Government agency that helps American businesses invest in emerging markets. The financing will provide a stable, long-term funding base for Tengri to support the expansion of its small and medium-sized enterprise (SME) lending activities throughout Kazakhstan, with a focus on supporting businesses that are majority-owned or led by women.

WorldBusiness Capital Closes $10 Million OPIC-Guaranteed Loan to Exitus Capital in Mexico

Fri, 14 Sep 2018 17:36:32 GMT

WorldBusiness Capital, Inc. (WBC) announced the closing of a $10 million, 10-year loan to Mexico-based Exitus Capital. WBC’s financing represents its second long-term facility for Exitus Capital, which is guaranteed by Overseas Private Investment Corporation (OPIC), the U.S. Government agency that helps American businesses invest in emerging markets. WBC loan proceeds will be used by Exitus Capital to expand its growth objectives of funding local loans and leases for small and medium-sized enterprises (SMEs) throughout Mexico. Additionally, WBC’s second loan will help bolster Exitus Capital’s profile in international capital markets, helping the company increase access to future rounds of attractive financing.

WorldBusiness Capital Closes $10 Million OPIC-Guaranteed Loan to Victoria Bank in Kenya

Thu, 21 Jun 2018 17:37:59 GMT

WorldBusiness Capital, Inc. (WBC) announced the closing of a $10 million, 10-year commercial loan to Victoria Commercial Bank Limited (VCB) of Kenya. WBC’s loan is guaranteed by Overseas Private Investment Corporation (OPIC), the U.S. Government agency that helps American businesses invest in emerging markets. The financing will provide a long-term funding source for Victoria to support its small and medium-sized enterprise (SME) lending in Kenya, retaining a sizeable portion for woman owned and managed enterprises and “green” loans. In addition to the support for SMEs in Kenya, the developmental impact of the proposed WBC loan is enhanced by a number of socially responsible initiatives in Kenya that VCB currently sponsors.

Presidential Award for Exports Presented to WorldBusiness Capital

Mon, 21 May 2018 17:39:42 GMT

U.S. Secretary of Commerce Wilbur Ross presented WorldBusiness Capital, Inc. (WBC) with the President’s “E” Award for Exports at a ceremony today in Washington, D.C. The President’s “E” Award is the highest recognition any U.S. entity can receive for making a significant contribution to the expansion of U.S. exports. Brett Silvers, WBC’s President & CEO, and Leslie Galbraith, WBC’s Executive Vice President & CFO, received the Award on behalf of the company.

WorldBusiness Capital Closes $15 Million OPIC-Guaranteed Loan to Fedecredito in El Salvador

Tue, 26 Dec 2017 18:41:38 GMT

WorldBusiness Capital, Inc. (WBC) announced that its Americas Lending Team has closed a $15 million, 8-year loan to San Salvador-based Federacion de Cajas de Credito y de Bancos de los Trabajadores, S.C. de R.L. de C.V. (Fedecredito). WBC’s loan is guaranteed by Overseas Private Investment Corporation (OPIC), the U.S. Government agency that helps American businesses invest in emerging markets. The proceeds of WBC’s loan will enable Fedecredito to provide financing to its 55 member credit unions and banks supporting SMEs throughout El Salvador.

WorldBusiness Capital Closes $8 Million OPIC-Guaranteed Loan to Bank Vostok in Ukraine

Thu, 21 Dec 2017 19:57:34 GMT

DNIPRO, UKRAINE, December 21, 2017 – WorldBusiness Capital, Inc. (WBC) announced the closing of an $8 million, 10-year commercial loan to Ukraine’s Bank Vostok. WBC’s loan is guaranteed by Overseas Private Investment Corporation (OPIC), the U.S. Government agency that helps American businesses invest in emerging markets. WBC’s OPIC-supported loan will enable Bank Vostok to expand its lending to local small and medium-sized enterprises (SMEs) in Ukraine that are involved primarily in the processing, distribution, and export of agricultural products.

WorldBusiness Capital Closes $7.5 million OPIC-Guaranteed Loan to Financiera FAMA in Nicaragua

Tue, 05 Dec 2017 20:02:33 GMT

MANAGUA, NICARAGUA, December 5, 2017 – WorldBusiness Capital, Inc. (WBC) announced the closing of a $7.5 million, 7-year commercial term loan to Managua-based Financiera Fama S.A. (Financiera FAMA). WBC’s loan is guaranteed by Overseas Private Investment Corporation (OPIC), the U.S. Government agency that helps American businesses invest in emerging markets. Proceeds of WBC’s loan will be used by Financiera FAMA to on-lend to entrepreneurs and small businesses located throughout the country. Additionally, the new loan will enable Financiera FAMA to hire 100+ new employees over the next five years.

WorldBusiness Capital Closes $8 million OPIC-Guaranteed Loan to Financiera Equipa-T in Mexico

Mon, 13 Nov 2017 20:05:34 GMT

MEXICO CITY, MEXICO, November 13, 2017 – WorldBusiness Capital, Inc. (WBC) announced the closing of an $8 million, 7-year commercial loan to Mexico City-based Sociedad Financiera Equípate, S.A. de C.V., SOFOM, ENR (Equipa-T). WBC’s loan is guaranteed by Overseas Private Investment Corporation (OPIC), the U.S. Government agency that helps American businesses invest in emerging markets. Proceeds of WBC’s loan will be used by Equipa-T to expand its lending to entrepreneurs throughout Mexico. This is the first foreign currency loan from an international financial institution obtained by Equipa-T.

WorldBusiness Capital Closes $15 Million OPIC-Guaranteed Loan to LOLC Micro Credit in Sri Lanka

Thu, 26 Oct 2017 19:09:14 GMT

COLOMBO, SRI LANKA, October 16, 2017 – WorldBusiness Capital, Inc. (WBC) announced the closing of $15 million, 10-year commercial loan to LOLC Micro Credit Limited (LOMC). The loan is guaranteed by Overseas Private Investment Corporation (OPIC), the U.S. Government agency that helps American businesses invest in emerging markets. The financing will be used to support LOMC’s expansion of its microfinance lending and leasing programs for underserved segments of the small business community in Sri Lanka.

Strategic Partnership with Logistics Plus Offers International Financing Solutions

Fri, 29 Sep 2017 19:11:19 GMT

HARTFORD, CONNECTICUT, September 29, 2017 – WorldBusiness Capital, Inc. (WBC) has established a strategic partnership with Logistics Plus Inc., a worldwide provider of transportation, logistics and supply chain solutions. Logistics Plus offers WBC’s international financing solutions to customers in conjunction with its international logistics, consignment warehousing, and foreign trade zone operations.

U.S. Export-Import Bank Extends WBC’s Approved Finance Provider Status into 2019

Mon, 18 Sep 2017 19:12:59 GMT

HARTFORD, CONNECTICUT, September 18, 2017 – The Export-Import Bank of the United States (EXIM), the official export credit agency of the United States, has renewed the status of WorldBusiness Capital, Inc. (WBC) as a guaranteed lender under the agency’s Medium Term Loan Program into 2019. WBC has been an Approved Finance Provider under the program since 2003, enabling the firm to offer competitive term loans covered by an EXIM guarantee for international buyers of U.S. capital goods and services.

Connecticut Department of Banking Licenses WBC As International Trade and Investment Corp.

Fri, 08 Sep 2017 19:15:48 GMT

HARTFORD, CONNECTICUT, September 8, 2017 – WorldBusiness Capital, Inc. (WBC) announced that it has been approved by the Connecticut Department of Banking as the State’s first International Trade and Investment Corporation (ITIC) licensee. This follows the passage of a new act added to the Connecticut General Statutes §36a-636a by the State’s Legislature during its 2016 regular session.

U.S. Department of Agriculture Approves WBC for CCC Export Loan Programs

Wed, 06 Sep 2017 19:18:04 GMT

HARTFORD, CONNECTICUT, September 6, 2017 – WorldBusiness Capital, Inc. (WBC) announced that it has been approved by the U.S. Department of Agriculture (USDA) as a participating U.S. Financial Institution eligible to finance U.S. agricultural commodity exports and related facilities in emerging markets using federal loan guarantees. WBC becomes one of only 6 financial institutions in the country approved to access both the Export Credit Guarantee Program (GSM-102) and Facility Guarantee Program (FGP), which USDA’s Foreign Agricultural Service administers on behalf of the federal Commodity Credit Corporation (CCC), which issues the credit guarantees.

CEO Brett Silvers Gives Keynote Speech at OPIC’s “Expanding Horizons” Workshop in New York

Mon, 19 Jun 2017 19:19:23 GMT

NEW YORK, NEW YORK, June 16, 2017 – The Overseas Private Investment Corporation (OPIC) drew more than 180 small businesses and entrepreneurs from 15 states to its Expanding Horizons small business workshop in New York City. WorldBusiness Capital’s President & CEO, Brett N. Silvers, gave the keynote luncheon speech to the conference participants, in which he remarked that, “Since 2003, our team has made over $600 million of OPIC guaranteed loans for 83 projects sponsored by U.S. small businesses, entrepreneurs, and investment funds in 20 countries located throughout Latin America, Eastern Europe, Central and South Asia, and Africa. These small businesses represent 20 states and have created hundreds – maybe thousands – of well-paying U.S. jobs thanks to OPIC’s support.”

WorldBusiness Capital Welcomes New Lenders and Promotes Longstanding Executives

Fri, 12 May 2017 19:20:51 GMT

HARTFORD, CONNECTICUT, May 15, 2017 – WorldBusiness Capital, Inc. (WBC) welcomes several new international lending professionals with extraordinary backgrounds to its Americas and Eurasia/Africa Lending Teams. In addition, WBC is pleased to announce the promotion of key established executives to manage the continuing growth of the firm’s loan programs in the United States, Mexico, and overseas markets.

WorldBusiness Capital Closes $10 Million OPIC-Guaranteed Loan to Siempre Creciendo in Mexico

Fri, 31 Mar 2017 19:23:31 GMT

MEXICO CITY, MEXICO, March 31, 2017 – WorldBusiness Capital, Inc. announced that its Americas Lending Team closed a new $10 million, OPIC-guaranteed loan to Siempre Creciendo, S.A. de C.V. SOFOM, E.N.R. (“Creciendo”). Proceeds of the WBC loan are being used by Creciendo to expand its lending to micro and small enterprises in Mexico’s underserved rural communities. The long-term loan from WBC represents Creciendo’s first U.S. dollar-denominated international borrowing facility.

WorldBusiness Capital Closes $6 Million of USDA-Guaranteed Loans to Sheffield Pharma in Connecticut

Fri, 10 Mar 2017 20:25:35 GMT

NEW LONDON, CONNECTICUT, March 10, 2017 – WorldBusiness Capital, Inc. (WBC) announced the closing of a $6 million financing for Connecticut-based manufacturer, Sheffield Pharmaceuticals, LLC. The loans include a $5 million, 12-year loan for business expansion and a $1 million, 15-year loan to purchase new equipment. Both WBC loans are guaranteed by the U.S. Department of Agriculture (USDA) under its Business and Industry (B&I) Guaranteed Loan Program.

WorldBusiness Capital Closes $10 Million of OPIC-Guaranteed Loans to Nurol Bank in Turkey

Wed, 28 Dec 2016 20:27:06 GMT

ISTANBUL, TURKEY, January 2, 2017 – WorldBusiness Capital, Inc. (WBC) announced the closing of a 10-year, $10 million commercial loan (subdivided into a $5,000,000 senior loan and a $5,000,000 subordinated loan) to Nurol Yatirim Bankasi A.S. (Nurolbank). The loan is guaranteed by Overseas Private Investment Corporation (OPIC), the U.S. Government agency that helps American businesses invest in emerging markets. The financing will be used to support Nurolbank’s lending activities to factoring companies that service small and midsize enterprises (SME) in Turkey.

SelectUSA (India) Features WBC’s International Lending Programs

Tue, 26 Jul 2016 17:43:11 GMT

WorldBusiness Capital, Inc. (WBC) was featured in a newsletter published quarterly by the U.S. Commercial Service team for SelectUSA in India. The newsletter invites subject matter experts to provide advice for Indian entrepreneurs and companies that are looking to invest and expand their business in the United States. The column, written by Rohit Choudhary, Vice President of WBC, highlights various financing options available for Indian businesses looking to enter the U.S. market. The article further suggests the preparations businesses must undertake before considering a U.S. entry.

WBC Closes $15 Million Long-Term Loan to Mexico’s Mercader Financial

Tue, 31 May 2016 17:44:47 GMT

WorldBusiness Capital, Inc. (WBC) announced that its Latin America & Caribbean Lending Team closed a $15 million long-term term loan to Mercader Financial, S.A. de C.V. SOFOM, E.N.R. (Mercader). WBC’s loan will support the expansion of Mercader’s growing portfolio of small business leases and loans in the Mexican Market.

Richard Booth and Sunil Mehta Named WBC Senior Advisors for 2016

Thu, 10 Mar 2016 18:46:16 GMT

WorldBusiness Capital, Inc. (WBC) today announced that two financial industry leaders and veterans, Richard Booth and Sunil Mehta, have joined the WBC team for 2016 as Senior Advisors to help guide the expansion of the company’s international lending activities.

Indian Lender Obtains $4 Million External Commercial Borrowing from WBC

Fri, 15 Jan 2016 18:47:42 GMT

WorldBusiness Capital, Inc. (WBC) announced the closing of a 10-year, $4 million external commercial borrowing to a Chennai-based microfinance institution, Madura Micro Finance Limited (Madura).

WBC Provides $10 million Long-Term Loan for Expanded Microlending in Mexico

Mon, 28 Sep 2015 17:52:18 GMT

WorldBusiness Capital, Inc. announced that its Latin America Lending Team closed a $10 million long-term loan to Financiamiento Progresemos, S.A. de C.V. SOFOM, ENR (Progresemos). The proceeds of the WBC loan are being used by Progresemos to expand its microlending portfolio to Mexican low-income micro entrepreneurs located in underserved regions of Mexico. Progresemos’ unique business model is based on co-lending with other partner microfinance institutions with an established customer base and local market knowledge.

WBC Closes $4.5 million Long-Term Loan Supporting Mexican SME Sector

Mon, 14 Sep 2015 17:53:50 GMT

WorldBusiness Capital, Inc. announced that its Latin America Lending Team closed a $4.5 million long-term loan to Exitus Capital, S.A.P.I. de C.V. SOFOM, ENR (Exitus). The proceeds of the WBC loan are being used by Exitus to finance the expansion of its small and midsize enterprise (SME) lending and leasing business in Mexico. The WBC credit facility will provide long-term funding to Exitus and will help to diversify its funding sources and enhance its capacity to make attractive credit available to Mexican SMEs. The company’s business model focuses on delivering factoring, revolving and term loans, and equipment leases to the underserved Mexican SME sector. Exitus is based in Mexico City and currently employs about 30 people.

WBC Participates in Conference on Leveraging Technology for Mexico’s Financial Sector

Fri, 10 Apr 2015 17:55:12 GMT

In mid-February 2015, WBC’s Executive Vice President, Joseph Raycraft, and Vice President, Jose Gonzalez, participated in the Leveraging Technology for the Mexican Financial Sector Conference, which was held in Mexico City and sponsored by the U.S. Commercial Service. The focus of the conference was to share U.S. best practices and demonstrate U.S. technologies available to assist the Mexican banking sector’s expansion. A number of U.S. technology equipment suppliers participated in the conference, together with Mexican niche banks, non-bank finance companies, and micro lenders.

Senior WBC Executive Speaks at Expo Manufactura Event in Monterrey

Wed, 11 Mar 2015 17:56:42 GMT

During the first week of February 2015, members of WBC’s Mexico Lending Team traveled to two cities in Mexico to focus on business development and due diligence related to several active loan opportunities. WBC’s Senior Vice President, Ricardo Croes, and Vice President, Jose Gonzalez, attended Expo Manufactura, a business forum held in Monterrey bringing together Mexico’s manufacturing community. The Manufactura event introduced the latest manufacturing technologies with the aim of increasing the overall competitiveness of Mexico’s manufacturers.

WBC and Türk Eximbank Sign Landmark MOU to Finance U.S.-Turkish Trade

Wed, 18 Feb 2015 18:58:07 GMT

WorldBusiness Capital, Inc.’s Eurasia Lending Team announced the signing of a Memorandum of Understanding (MOU) with Türk Eximbank regarding the development of an innovative Trade Financing Program designed to promote exports to, and investment in, the United States by Turkish businesses. Under the proposed program, WBC plans to offer term loans insured by Türk Eximbank for U.S.-based buyers of high-value-added products from Turkish suppliers and for U.S.-based projects involving Turkish investors and contractors. Türk Eximbank is the official export credit agency of the Turkish government and Turkey’s major export incentive instrument.

Second Major Micro-Finance Institution in India Assisted by New WBC Loan

Thu, 22 Jan 2015 18:59:43 GMT

WorldBusiness Capital, Inc.’s India Lending Team announced the closing of senior and subordinated loans totaling $10 million to Satin Creditcare Pvt. Ltd., a growing micro-finance institution headquartered in Delhi, India. Satin, whose shareholders include the U.S. investment firms MicroVest Capital and ShoreCap International, was advised in the transaction by IFMR Capital, a leading investment bank in India focused on the financial sector. WBC’s External Commercial Borrowing (ECB)-structured loans help Satin diversify funding sources and increase capacity to offer financing to India’s underserved populations.

Loan Tranche Disbursed by WBC Expands Financing for Mexican SMEs

Mon, 03 Nov 2014 19:01:14 GMT

WorldBusiness Capital, Inc.’s Mexico Lending Team announced that it disbursed the final tranche of a $5 million long-term loan to Arrendadora y Comercializadora Lingo S.A. de C.V. SOFOM E.N.R. (Lingo), a commercial finance and equipment leasing company with headquarters in Guadalajara and a branch office in Queretaro. Lingo is using WBC loan proceeds to fund the expansion of its portfolio of loans and leases to SMEs in Mexico. In conjunction with the project, Amembal & Halladay and Leasconsulting Corp., recognized experts in the global leasing industry, are providing Lingo with specialized training in the areas of lease underwriting and administration.

WBC Closes Long-Term Loan to Support Mexican Agribusiness Sector

Wed, 01 Oct 2014 18:02:38 GMT

WorldBusiness Capital, Inc.’s Mexico Lending Team announced that it closed a $5 million long-term loan to Servicios y Financiamiento Agricola S.A. de C.V. SOFOM, ENR (Sefia), a commercial finance company headquartered in Queretaro. Pablo Rión y Asociados (Pablo Rión), an independent financial advisory firm, advised Sefia on the transaction. Sefia will use the WBC loan proceeds to finance the agribusiness sector in northern Mexico. Sefia operates through 18 branch locations and offers attractive loans for borrowers in the agricultural and livestock industries to purchase new equipment.

WBC Finances U.S. Buyer of Indian-Made Machine Tools

Tue, 18 Feb 2014 19:04:09 GMT

WorldBusiness Capital, Inc.’s India Lending Team, led by Scott Freiday, Senior Vice President and Managing Director-India, and Rohit Choudhary, Vice President and Director-India, closed an innovative medium-term loan for a U.S.-based technical training school to purchase machine tools manufactured and exported by Jyoti CNC Automation Ltd. of Rajkot, India. The loan, structured with the assistance of WBC’s Chief Lending Officer, Rob Monyak, financed the sale of Indian- made machine tools in the U.S. market.

Top Indian Micro-Finance Institution Receives ECB Term Loans from WBC

Fri, 03 Jan 2014 19:05:43 GMT

Grama Vidiyal Microfinance Ltd., based in Tamil Nadu and advised by Avendus Capital, a leading Indian investment bank, has received both senior and subordinated debt financing from WorldBusiness Capital, Inc. WBC’s India Lending Team, headed by Scott Freiday, Senior Vice President, and assisted by Rohit Choudhary, Vice President, managed the Grama Vidiyal transaction and plan to expand medium and long-term lending for financial institutions and industrial businesses throughout India.

Mexico’s Equipment Leasing Industry Attracts WBC Financing

Fri, 04 Oct 2013 18:07:13 GMT

During the first week of October, WorldBusiness Capital, Inc.’s Chief Lending Officer, Robert Monyak, and Senior Vice President & Mexico Lending Team Leader, Joseph Raycraft, visited Mexico to complete due diligence on new term loan facilities for three Mexican equipment leasing companies. WBC already has an 8-figure portfolio of U.S. dollar loans to leasing companies in Mexico and is highly committed to offering attractive financing for this industry.

Small Business Exporters Association Award Received by WBC

Tue, 03 Jun 2008 18:08:50 GMT

The Small Business Exporters Association – the international trade council of NSBA – awarded its highest recognition for a lender, the Robert Duncan Award, to WorldBusiness Capital, Inc., of Hartford, Connecticut, at a ceremony in Washington, DC. An innovative small-business lender, WorldBusiness Capital, Inc. was honored for its success in helping small U.S. companies enter challenging foreign markets.

WBC and OPIC Sign Innovative Small Business Lending Partnership

Wed, 30 Jul 2003 18:10:05 GMT

WASHINGTON, D.C. -- The Overseas Private Investment Corporation (OPIC)

and small business lender WorldBusiness Capital, Inc. (WBC)

have entered into a cooperative agreement that will expand support for U.S. small businesses investing overseas and enhance the activities of OPIC’sSmall Business Center. OPIC President and CEO Dr. Peter Watson and WBC President and CEO Brett Silvers signed a framework agreement authorizing the pilot program at the annual meeting of the Small Business Exporters Association, the oldest and largest association of small and mid-sized businesses in international trade.

Under this framework agreement, OPIC will provide loan guaranties for WBC projects pursuant to a risk-sharing arrangement. WBC will make loans with its own funds, and will continue to monitor and service each loan.

OPIC President and CEO Dr. Peter Watson and WBC President and CEO Brett Silvers

Dr. Watson said, “Helping small business is one of OPIC’s leading priorities. The partnership between OPIC and WBC is another important step in this effort. WBC’s expertise in identifying U.S. small businesses ready to expand into emerging markets will be particularly invaluable and will complement the ongoing activities of our small business center and OPIC’s new Small and Medium Enterprise Department.”

Mr. Silvers said the agreement “will improve the efficiency and flow of deals through OPIC’s Small Business Center. By pooling our respective resources, we are providing a valuable service and serving as an additional complementary channel for OPIC to extend its support to American small

businesses.”

WorldBusiness Capital, Inc., a commercial finance company based in Hartford, Connecticut, intends to make OPIC-guaranteed loans of between $250,000 and $10 million to U.S. small businesses expanding into overseas markets. OPIC was established as an agency of the U.S. government in 1971. It helps U.S. businesses invest overseas, fosters economic development in new and emerging markets, complements the private sector in managing risks associated with foreign direct investment, and supports U.S. foreign policy. Because OPIC charges market-based fees for its products, it operates on a self-sustaining basis at no net cost to taxpayers.

OPIC’s political risk insurance and financing help U.S. businesses of all sizes invest in more than 150 emerging markets and developing nations worldwide. Over the agency’s 32-year history, OPIC has supported $145 billion worth of investments that have helped developing countries to generate over $11 billion in host-government revenues and create over 680,000 host-country jobs. OPIC projects have also generated $65 billion in U.S. exports and created more than 254,000 American jobs. Visit OPIC on the web at www.opic.gov

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