Name of client contact: Luis Fernando Coronel Ceballos
Position: Finance and Treasury Manager
Telephone: 593-3730100 - ext.(25020)
The objective of this project is to support Banco Guayaquil’s (BG) growth strategy for its Micro, Small and Medium-Sized Enterprise (“MSME”) portfolio in order to increase access to financing in these segments. Thus, it is proposed to grant BG a senior unsecured loan for up to US$70 million. The loan will consist of two tranches as follows: (i) committed tranche for up to US$40 million to be used in 2019; and (ii) uncommitted tranche for up to US$30 million to be used in 2020. The term of this operation is five years, with no grace period.
Supplementing this loan, there is expected to be a Technical Assistance (“TA”) component with non-reimbursable funds. The principal objective of this TA is to strengthen the microcredit portfolio by developing a strategy with a gender approach.