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TriLinc Global approves loan to SA clothing importer

September 02, 2014 (South Africa)

US-based TriLinc Global Impact Fund, which provides growth-stage loans and trade finance to established SMEs in developing economies, approved a loan to a South-Africa based garment importer and distributor.

TriLinc said it facilitated two draws totalling to $622,000 against an existing $1,500,000 revolving trade finance facility at a fixed interest rate of 15.00% to a South African clothing importer and distributor.

The transaction, set to mature on November 4, 2014 and December 5, 2014, respectively, is secured by specific clothing inventory being imported into South Africa from Asia and sold to large retailers serving all of the country’s market segments, including low income consumers.

Gloria Nelund, CEO at TriLinc said, “We believe that facilitating finance access to SMEs in developing economies can be both, a profitable investment proposition and an effective driver of sustainable economic development.”

TriLinc makes impact investments in SMEs in developing economies that provide the opportunity to achieve both competitive financial returns and positive measurable impact and invests through experienced local market sub-advisors.


Fibre2fashion News Desk - India

 
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