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IDB Invest supports financing to small and medium-sized companies in Chile through Factotal

IDB Invest, the private arm of the Inter-American Development Bank (IDB) Group, has signed an unsecured loan of $10 million with a term of up to four years with Factotal S.A. The funds will be used to finance Chilean small and medium-sized enterprises (SME) through factoring and financial leasing.

The objective of the project, the fourth between IDB Invest and Factotal, is to improve the conditions for access to financing for SME in Chile through factoring and financial leasing, financial instruments that cover the liquidity and investment demand of SME with a reduced risk and a lower debt cost. Both types of operations have benefits for suppliers and tenants.

Factotal is one of the leading non-bank entities in Chile and has a geographical coverage that covers the main regions of the country. As of June 2017, the entity had 27 offices, 228 employees and two offices in Peru. Factotal works with three main business lines that are: factoring, financial leasing and non-financial leasing. As of June 2017, it managed a portfolio of gross loans of more than $110 million.

As part of the project, IDB Invest will support Factotal in aligning its environmental and social policies and procedures, corporate governance and asset laundering prevention with the best international practices in the field.

About IDB Invest

IDB Invest, the private sector institution of the Inter-American Development Bank (IDB) Group, is a multilateral development bank committed to supporting Latin America and the Caribbean businesses. It finances sustainable enterprises and projects to achieve financial results that maximize economic, social and environmental development for the region. With a current portfolio of $11.2 billion under management and 330 clients in 23 countries, IDB Invest works across sectors to provide innovative financial solutions and advisory services that meet the evolving demands of its clients. As of November 2017, IDB Invest is the trade name of the Inter-American Investment Corporation.

 

About Factotal

Factotal was established in 1993 as one of the pioneer institutions in the factoring sector in Chile. Currently, it is one of the companies with the greatest and best trajectory in that market. It offers financing through factoring to Chilean SMEs. Since April 2011, as part of its growth and diversification strategy, the company carries out financial leasing and operational operations of technological equipment through FT Vendor Finance Chile S.A.

Contacts

Escudero,Ana Lucia

Escudero,Ana Lucia
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