Banking, Finance and Insurance

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.

Colombia