Project Category
Banking, Finance and Insurance
Project Description
The purpose of this project is to increase the access to finance to the lower segment of the population in Colombia by supporting Credivalores-Crediservicios S.A.S ("CV", the "Company" or "Credivalores"), a non-banking financial institution ("NBFI") focused on lending to low and middle income households in medium and small cities of the country. IFC will provide a Pesos-linked loan of up to US$20 million equivalent. Credivalores is a NBFI that resulted from the merger of two sister companies in 2009 (Crediservicios S.A. and Credivalores S.A), which were established in Cali - Colombia in 2003 with the purpose of lending to individuals and small companies. The Company focuses on payroll-deduction loans, consumer lending collected through public utility bills and financing of insurance policies to low and middle income individuals.
Country
Colombia
Our Reference Number
2003018150409
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