TriLinc Global Impact Fund said Friday it recently approved $6.3 million in trade finance transactions to companies in South Africa and Argentina.
TriLinc is an impact investing fund that provides growth-stage loans and trade finance to established small and medium enterprises in developing economies where access to affordable capital is limited.
“TriLinc seeks to provide accessible and flexible financing to developing economy SMEs that are experiencing strong demand for their goods and services in the global marketplace,” TriLinc CEO Gloria Nelund said. “With these recent investments, TriLinc has extended additional financing to two borrowers, facilitating a timely, consistent, and efficient source, of capital that complements their business cycles and market penetration objectives while creating lasting positive economic and social impacts.”
On June 9, TriLinc funded two transactions totaling $6 million, as part of an existing $7 million revolving trade finance facility, at an interest rate of 11.98 percent to an Argentine meat production and processing company. The borrower expects the TriLinc financing to support economic growth through job creation, increased exports and increased agricultural productivity.
On June 17, TriLinc funded $274,813. as part of an existing $2.5 million revolving trade finance facility, at a fixed interest rate of 15 percent to a South African textile distributor.
