Company name
Tanner Servicios Financieros S.A. (“Tanner”)
Project number
CH2962A-04
FI-3 operations are those where the risk potential is considered low: the FI’s current or future portfolio consists of financial exposure to business activities that predominantly have minimal or no adverse environmental and social impacts.
E&S category
FI-3
Country
Chile
Sector
Financial Institutions
Status
Completed
Disclosed date
12/03/2015
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
01/12/2016
Approval date
03/31/2016
Signed date
05/02/2016
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
N/A
Financing amount
USD $ 20,000,000
Currency
USD
Project scope and objective
Tanner was founded in 1993 under the name Bifactoring by the main shareholders of what was at the time called Banco BHIF (the Said y Massu Group). In 2013, the Capital Group acquired a 27 percent stake in Tanner. Tanner is one of the oldest factoring companies in Chile. Tanner currently offers small and medium-sized enterprises (SMEs) a comprehensive portfolio of financial services through subsidiaries Tanner Leasing S.A. (99.99%), Tanner Corredores de Seguros Ltda. (70%), and Tanner Corredores de Bolsa de Productos S.A. (100%). Tanner's main lines of business are domestic and international factoring, vehicle loans, leasing, and business loans.
The funds from the IIC will be used to support the growth of Chile’s portfolio of factoring and leasing to SMEs.
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Contact information
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Client Contact
N/A
PHONE NUMBER
N/A
POST OFFICE ADDRESS
N/A
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.
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.
ENVIRONMENTAL AND SOCIAL REVIEW
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