Comohogar S.A.

The project consists of a corporate loan that will be used to finance new points of sale in Ecuador’s major cities and permanent working capital needs, chiefly receivables and inventory. This loan of up to US$10 million will support the growth and development plans of the Sukasa, Todohogar, and SuKocina stores, a new type of retailer recently developed by Comohogar. It is estimated that once the project is completed, Comohogar will have 28 points of sale strategically located throughout Ecuador.

Comohogar offers good-quality products, competitive prices, and reasonable financing for its customers from all socioeconomic strata in the Republic of Ecuador. Comohogar has over 15 years of experience and is well positioned in the semi-durable goods market for Ecuadorian homes. Comohogar is a business anchor in the household goods supply chain–which includes appliances, linens, household items, kitchenware, audio and video equipment, and a Christmas-product line. Comohogar offers goods manufactured by small and medium-sized Ecuadorian enterprises, in addition to imported products. It works with domestic suppliers to deliver goods through the “Ecuador shops Ecuador” programs and fairs, promoted by the Ecuadorian government to encourage domestic production.

This loan is Comohogar’s second from the IIC. It obtained its first loan from the Corporation in 2008 to support the company’s expansion and growth. Specifically, Comohogar achieved annual sales of US$83 million from 21 stores in 2011, compared to US$50 million from 10 stores in 2007. Comohogar has complied with the terms and conditions of the first IIC loan, including the environmental protection programs and the handling of social and environment aspects agreed to with the IIC.