TriLinc Global Impact Fund approves $4million credit facility for companies operating in Sub Saharan Africa
TriLinc Global Impact Fund has approved $4.4 million in loan and trade finance transactions with companies operating in Sub-Saharan Africa and Latin America.
Between April 10, 2018 and April 30, 2018, TriLinc participated in five separate transactions, totaling $3,708,229 as part of an existing $10,000,000 senior secured trade finance facility with four different Nigerian soft commodity exporters that source crops at farm gate from local, smallholder farmers and then process them for export.
The transactions are set to mature between September 25, 2018 and November 30, 2018 and are secured by a pledge of goods, assignment of proceeds, and insurance coverage.
On April 23, 2018, TriLinc funded $668,682 as part of an existing $15,000,000 senior secured 4.2-year term loan to a consumer lender in Colombia that services public sector employees and retirees within small and medium size government agencies throughout the country.
Priced at 11.25%, the transaction is set to mature on August 1, 2021, and is secured by the portfolio of payroll deduction loans and all cash flow stemming from such assigned deduction loans, with a cash flow coverage ratio of 1.1x.
The borrower anticipates that TriLinc’s loan will assist the borrower in originating new payroll deduction loans, which would provide middle income consumers with timely and flexible financing for voluntary private consumption.
“TriLinc’s recent investment activity demonstrates our commitment to continuing to provide reliable capital to our existing borrower companies,” said Gloria Nelund, CEO of TriLinc. “TriLinc’s financing supports borrower companies, like the consumer lender in Colombia, to more effectively service their local client base through the timely delivery of a quality product.”
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 in communities across the globe.
www.trilincglobalimpactfund.com
