Microinvest and WorldBusiness Capital signed a loan agreement | Microinvest

On June 24, 2019, O.C.N. Microinvest S.R.L and WorldBusiness Capital Inc, (“WBC”) strengthened their existing partnership by signing a loan agreement for US$10 million facility. This collaboration emphasizes the continuous trust of Microinvest’s strategic partners, who are ready to support the company by providing funding even in moments of political changes and economic instability. This loan has a tenor of 7 years with 1-year of grace period for each tranche and is partially guaranteed by Overseas Private Investment Corporation (“OPIC”), the U.S. Government’s development finance institution. The loan facility will be used to expand Microinvest lending portfolio, formed mainly by micro and small enterprises from the whole Republic of Moldova. Considerable part of the loans will be invested in rural areas of the country and over 20% of the entire number of clients are expected to be represented by women. The main goal of the loan is certainly a sustainable growth of the local economy.

,,We are extremely proud that our company is the leader of the non-banking lending market, with a loan portfolio more than MDL 1.5b. WBC facility will allow us to continue providing access to proper financial services to SMEs by applying the best practices of lending. Being the unique moldovan company certified by The Smart Campaign, Microinvest once again confirms its commitment and responsibility towards customers”, commented Dumitru Svinarenco, the Chief Executive Officer of the company.

Being a customer-oriented company with a proactive service approach, Microinvest managed to lend and develop more than 16 000 small businesses from Republic of Moldova, of which 10 000 are from rural areas. Nowadays, Microinvest is a trusted partner chosen for collaboration by many entrepreneurs because of the speed, flexibility and adequate collateral requirements.

O.C.N. Microinvest S.R.L (www.microinvest.md), headquartered in Chisinau, Republic of Moldova, is a non-banking lending company. Founded in 2003, Microinvest is represented now by 180 employees and 13 branches throughout the country.

WBC (www.worldbusinesscapital.com), headquartered in Hartford, CT, USA, is a regulated  commercial finance company that offers flexible term loans helping small and medium-sized businesses compete in the global marketplace. Founded in 2003, WBC is a direct lender staffed by multilingual professionals with many years of experience in cross-border trade and project finance. The WBC team has a proven track record of successfully-closed loans in emerging markets around the world, with a focus on lending in Latin America and the Caribbean, Eurasia, and Africa.

OPIC (www.opic.gov) is a self-sustaining U.S. Government agency that helps American businesses invest in emerging markets. Established in 1971, OPIC provides businesses with the tools to manage the risks associated with foreign direct investment, fosters economic development in emerging market countries, and advances U.S. foreign policy and national security priorities.

The Smart Campaign (www.smartcampaign.org) Washington, DC, USA, is a global campaign that implements the best client protection practices in non-banking industry. The purpose of “Smart Campaign” is to provide a seal of confidence that a financial institution carries out a fair and just lending process.

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