Thursday
October 24
2019

Citi, OPIC and Ford Foundation Launch Scaling Enterprise, a $100MM Financing Partnership to Support Social Enterprises

SAN FRANCISCO–(BUSINESS WIRE)–Oct 23, 2019 — Citi Inclusive Finance, the Overseas Private Investment Corporation (OPIC) and the Ford Foundation today introduced Scaling Enterprise, a $100 million loan guarantee facility, which will enable Citi to provide early-stage financing in local currency to companies that expand access to products and services for low-income communities in emerging markets. The announcement was made at the 2019 SOCAP Conference.

Loans and working capital in local currency and at affordable rates can enable early-stage social impact companies to achieve scale, greater efficiencies and lower costs. Scaling Enterprise will facilitate vital growth financing to eligible companies that are expanding access to finance, agriculture, energy, affordable housing, water and sanitation to low-income households in emerging markets.

Source: Press Release (link opens in a new window)

Categories
Entrepreneurship, Finance, Investing
Tags
alternative finance, Citi, entrepreneurs, Ford Foundation, OPIC, Women