Press Release: TriLinc Global Impact Fund Makes Impact Investments in Africa and Latin America
Monday, February 9, 2015
TriLinc Global Impact Fund (“TriLinc” or the “Company”) announced today that it has recently approved $1.9 million in trade finance transactions to companies in South Africa and Argentina. The transaction details are summarized below.
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.
TriLinc approved the trade finance transactions, which meet the Company’s requirements for underwriting, economic development and societal advancement, as described below:
On January 20, 2015, TriLinc funded $1,250,000 as part of an existing $1,250,000 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 January 28, 2015, TriLinc funded $182,109 as part of an existing $750,000 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 January 16, 2015, TriLinc funded $500,000 as part of an existing $6,000,000 trade finance facility at a fixed interest rate of 10.33% to an Argentine dairy cooperative. The transaction, set to mature on November 3, 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.