Company name
Total Leasing Finco, S.R.L.
Project number
14707-01
Category C projects are those that are likely to result in very limited or no adverse environmental or social impacts or risks.
E&S category
C
Country
Costa Rica
Sector
Manufacturing
Status
In implementation
Disclosed date
02/13/2024
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
06/17/2024
Approval date
06/17/2024
Signed date
07/03/2024
Sponsoring entity
N/A
Investment Operations Department Contact
Corporates Division
Investment type
Syndicated amount
N/A
Financing amount
USD $ 10,000,000
Currency
USD
Project scope and objective
Total Leasing Finco S.R.L. (Total Finco) is a Costa Rican company focused on the leasing of vehicles, fleets, medical and electronic equipment, as well as machinery and equipment for contracting and various types of companies. Since its founding, Total Finco has focused on providing leasing, mainly to micro, small and medium-sized businesses, as well as entrepreneurs and independent professionals. These sectors mostly do not have access, or this is limited to the traditional financial sector, and Finco has offered them a solution with an agile and secure service, under prudential credit practices.
IDB Invest's financing proposal consists of a medium-term loan with two tranches of different maturities, with two objectives to promote: (i) increase financing for MSMEs that are owned, managed or formed mainly by women in more 40% of the program; and (ii) finance productive assets with the following characteristics: sustainable, industrial or commercial, innovation or productive. The loan will have a guarantee in the first degree of priority and order, on the transfer of rights derived from lease contracts that show satisfactory coverage for IDB Invest.
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Contact information
For inquiries, comments and information requests about the project
Request informationAlternatively, you may also use the following contact information :
Client Contact
servicioalcliente@totalfinco.com
PHONE NUMBER
n.a
POST OFFICE ADDRESS
IDB Invest Contact
requestinformation@idbinvest.org
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
COUNTRY OFFICES
IDB Invest Country OfficesIndividuals or communities can submit complaints and concerns related to environmental, social, or corporate governance issues to the Management Grievance Mechanism by e-mailing mgm@iadb.org or by calling +1 202 312 4040.
As a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism by writing to mecanismo@iadb.org or MICI@iadb.org or calling +1(292) 623-3952.
IDB Invest has zero tolerance to reprisal or retaliation against anybody who voices its opinion or opposition to IDB Invest-financed projects.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
Environmental and social review
IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.
TOTAL FINCO - ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)
112.6 Kb
TOTAL FINCO - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)
122.9 Kb