Industrial Distributors International Co. (“IDICO”), which was founded by Mr. Paolo Amore, is a Miami-based company with a 29 year track record in sales/distribution of heavy equipment to port operators in Latin America. IDICO currently services the demand for port equipment of over 100 companies in Chile, Peru, Ecuador, Uruguay, Colombia and the Dominican Republic. IDICO will establish the Borrowers to execute its business strategy of offering equipment operating leases to its existing customers in order to capitalize on the recent growth in the ports sector. IDICO has requested an OPIC loan to the Borrowers of $5 million (the “Loan”) to support the development of its equipment leasing operation in Colombia and the Dominican Republic (the “Project”).
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