CrediQ, S.A. de C.V. (DFC-2018-CREDIQSADE)

Countries
  • Costa Rica
  • El Salvador
Where the impacts of the investment may be experienced.
Financial Institutions
  • US International Development Finance Corporation (DFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
C
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
CrediQ Inversiones C.R. S.A. (Costa Rica) and CrediQ El Salvador, S.A. de C.V.
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 142.50 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 142.50 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 190.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ DFC website

Updated in EWS Jul 31, 2020

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Project Description

The OPIC and Citibank, N.A. (“Citi”) term facility (the “Facility”) will: a) finance the expansion of the Borrowers’ vehicle finance onlending programs for small and medium enterprises (“SME”) in Costa Rica and El Salvador (79%), and b) refinance two existing Citi-OPIC risk sharing facilities and certain short-term debt (21%). Despite the importance of SMEs to the economies of these countries, access to finance is a major or severe barrier to business for 41% and 32% of the SMEs in Costa Rica and El Salvador, respectively. The facility will enable CrediQ to provide loans to these SMEs at longer tenors than it could otherwise, affording them additional liquidity to grow their businesses.

Investment Description
  • US International Development Finance Corporation (DFC)
Private Actors
Contact Information

Not available