|[March 26, 2014]
TriLinc Global Impact Fund Makes Impact Investments in Peru, Indonesia, Brazil and Chile
LOS ANGELES --(Business Wire)--
TriLinc Global Impact Fund ("TriLinc"), announced today that it has
approved $576,000 in financing to a Peruvian company involved in the
purchase, processing, packaging, export and sale of fruits and
vegetables. Also, during the first quarter of 2014 TriLinc provided
$5.165 million in additional loans to existing borrowers, including an
Indonesian electronics retailer, a Brazilian sugar producer, a Chilean
sustainable timber exporter and a Peruvian diaper manufacturer, for a
total of $5.741 million in loans funded for the current year.
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 both a competitive financial return as well as
creating positive, measurable impact on people and communities across
TriLinc approved the following transactions, which meet the Company's
requirements for underwriting, business development and socioeconomic
On March 25, 2014, TriLinc funded $576,000 as part of a two-year term
loan at 13.00% interest to a Peruvian food processing company. The
borrower anticipates that the financing will allow it to expand its
salad and fresh cuts business, thereby supporting the growth of
small-scale farmers from the highlands of Lima. Additionally, the
borrower supports its supply chain members by providing technical
assistance to small producers, such as advice for optimizing
productivity and training on efficiency and quality control.
On March 20, 2014, TriLinc funded a further $1.0 million as part of an
existing one-year term loan facility with an all-in yield at 14.50% to
an Indonesian electronics retailer. TriLinc had previously provided
the company with $1.0 million at an all-in yield of 14.50% as part of
this same facility. The company caters to consumers in the
lower-mddle to lower income brackets who lack access to traditional
forms of credit. Financing from our borrower allows consumers to
purchase household appliances and electronics, such as refrigerators
and washing machines, on payment plans.
On March 13, 2014, TriLinc provided a further $500,000 as part of an
existing term loan at 12.43% interest to a Brazilian sugar producer.
In a region of Brazil that has a poverty rate double the national
average, the financing allows the borrower to continue improving its
milling operations and supporting its employees with training and
health care services.
Over the course of this quarter, TriLinc facilitated a $415,000 draw
against an existing trade finance facility at 9.85% interest to a
Chilean sustainable timber exporter. The borrower is a Forest
Stewardship Council-certified timber company engaged in the
acquisition and processing of timber into wood chips and wood blocks
for manufacturers in Japan. The borrower estimates that it has
directly or indirectly created 500 jobs in the region.
On March 13, 2014, TriLinc funded a further $1.5 million as part of an
existing three-year term loan at 13.10% interest to a diaper
manufacturer in Peru. TriLinc had previously provided the company with
a separate $750,000 one-year term loan at 13.10% interest to finance
inventory purchases. The borrower is growing rapidly and expects the
financing from TriLinc to allow it to both increase the number of
employees and expand its product line to include adult diapers.
Currently, the borrower produces the only affordable disposable diaper
for lower-middle income Peruvian households.
"We are thrilled to support the financing needs of companies of this
caliber through our portfolio of impact investments," stated TriLinc CEO
Gloria Nelund. "The transactions present a clear example of how private
capital can be deployed to make a difference in the lives of so many
individuals and communities."
About TriLinc Global Impact Fund
TriLinc is a non-traded, externally managed, limited liability company
that makes impact investments in small- and medium-sized enterprises
("SMEs") in developing economies that provide the opportunity to achieve
both competitive financial returns as well as positive measurable
impact. TriLinc invests in SMEs through experienced local market
sub-advisors, and expects to create a diversified portfolio of financial
assets consisting primarily of collateralized private debt instruments.
TriLinc's investment objectives are to generate current income, capital
preservation and modest capital appreciation. In addition, the Company
aggregates and analyzes social, economic and environmental impact data
to track progress and measure success against stated objectives.
This press release contains forward-looking statements within the
meaning of the federal securities laws and regulations. These
forward-looking statements are identified by their use of terms and
phrases such as "anticipate," "believe," "continue," "could,"
"estimate," "expect," "intend," "may," "plan," "predict," "project,"
"should," "will" and other similar terms and phrases, including
references to assumptions and forecasts of future results.
Forward-looking statements are not guarantees of future performance and
involve known and unknown risks, uncertainties and other factors that
may cause the actual results to differ materially from those anticipated
at the time the forward-looking statements are made. Although the
Company believes the expectations reflected in such forward-looking
statements are based upon reasonable assumptions, it can give no
assurance that the expectations will be attained or that any deviation
will not be material. The Company undertakes no obligation to update any
forward-looking statement contained herein to conform the statement to
actual results or changes in the Company's expectations.
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