The proceeds of the loan shall be used to provide financing to small and medium-sized enterprises (SME) in Nicaragua in the form of medium- and long-term loans to modernize and expand these companies.
BAC Nicaragua, a bank established in 1952, forms part of the BAC Credomatic group, the main issuer and processer of credit and debit cards in Central America. BAC Nicaragua is a full service bank that allocates 45 percent—a significant portion—of its portfolio to retail banking, and the remaining 55 percent is for corporate banking. In terms of assets and portfolio, BAC Nicaragua is the third largest bank in Nicaragua.
BAC Nicaragua offers a broad portfolio of financial services and products through multiple distribution channels such as its branches, points of service, ATMs, and mobile banking. It currently has a network of 33 branches, 173 ATMs, and 9 points of service located within companies, providing extensive coverage across Nicaragua.