2016 and Prior News
SelectUSA (India) Features WBC’s International Lending Programs
NEW DELHI, INDIA, July 26, 2016 – WorldBusiness Capital, Inc. (WBC) was featured in a newsletter published quarterly by the U.S. Commercial Service team for SelectUSA in India. The newsletter invites subject matter experts to provide advice for Indian entrepreneurs and companies that are looking to invest and expand their business in the United States. The column, written by Rohit Choudhary, Vice President of WBC, highlights various financing options available for Indian businesses looking to enter the U.S. market. The article further suggests the preparations businesses must undertake before considering a U.S. entry.
WBC Closes $15 Million Long-Term Loan to Mexico’s Mercader Financial
MEXICO CITY, MEXICO, May 31, 2016 – WorldBusiness Capital, Inc. (WBC) announced that its Latin America & Caribbean Lending Team closed a $15 million long-term term loan to Mercader Financial, S.A. de C.V. SOFOM, E.N.R. (Mercader). WBC’s loan will support the expansion of Mercader’s growing portfolio of small business leases and loans in the Mexican Market.
Richard Booth and Sunil Mehta Named WBC Senior Advisors for 2016
HARTFORD, CONNECTICUT, March 10, 2016 – WorldBusiness Capital, Inc. (WBC) today announced that two financial industry leaders and veterans, Richard Booth and Sunil Mehta, have joined the WBC team for 2016 as Senior Advisors to help guide the expansion of the company’s international lending activities.
Indian Lender Obtains $4 Million External Commercial Borrowing from WBC
CHENNAI, INDIA, January 15, 2016 – WorldBusiness Capital, Inc. (WBC) announced the closing of a 10-year, $4 million external commercial borrowing to a Chennai-based microfinance institution, Madura Micro Finance Limited (Madura).
WBC Provides $10 Million Long-Term Loan for Expanded Microlending in Mexico
MEXICO CITY, MEXICO, September 28, 2015 – WorldBusiness Capital, Inc. announced that its Latin America Lending Team closed a $10 million long-term loan to Financiamiento Progresemos, S.A. de C.V. SOFOM, ENR(Progresemos). The proceeds of the WBC loan are being used by Progresemos to expand its microlending portfolio to Mexican low-income micro entrepreneurs located in underserved regions of Mexico. Progresemos’ unique business model is based on co-lending with other partner microfinance institutions with an established customer base and local market knowledge.
WBC Closes $4.5 Million Long-Term Loan Supporting Mexican SME Sector
MEXICO CITY, MEXICO, September 14, 2015 – WorldBusiness Capital, Inc. announced that its Latin America Lending Team closed a $4.5 million long-term loan to Exitus Capital, S.A.P.I. de C.V. SOFOM, ENR (Exitus). The proceeds of the WBC loan are being used by Exitus to finance the expansion of its small and midsize enterprise (SME) lending and leasing business in Mexico. The WBC credit facility will provide long-term funding to Exitus and will help to diversify its funding sources and enhance its capacity to make attractive credit available to Mexican SMEs. The company’s business model focuses on delivering factoring, revolving and term loans, and equipment leases to the underserved Mexican SME sector. Exitus is based in Mexico City and currently employs about 30 people.
WBC Participates in Conference on Leveraging Technology for Mexico’s Financial Sector
MEXICO CITY, MEXICO, April 10, 2015 – In mid-February 2015, WBC’s Executive Vice President, Joseph Raycraft, and Vice President, Jose Gonzalez, participated in the Leveraging Technology for the Mexican Financial Sector Conference, which was held in Mexico City and sponsored by the U.S. Commercial Service. The focus of the conference was to share U.S. best practices and demonstrate U.S. technologies available to assist the Mexican banking sector’s expansion. A number of U.S. technology equipment suppliers participated in the conference, together with Mexican niche banks, non-bank finance companies, and micro lenders.
Senior WBC Executive Speaks at Expo Manufactura Event in Monterrey
MONTERREY and GUADALAJARA, MEXICO, March 11, 2015 – During the first week of February 2015, members of WBC’s Mexico Lending Team traveled to two cities in Mexico to focus on business development and due diligence related to several active loan opportunities. WBC’s Senior Vice President, Jose Gonzalez, attended Expo Manufactura, a business forum held in Monterrey bringing together Mexico’s manufacturing community. The Manufactura event introduced the latest manufacturing technologies with aim of increasing the overall competitiveness of Mexico’s manufacturers.
WBC and Türk Eximbank sign Landmark MOU to Finance U.S.-Turkish Trade
ISTANBUL, TURKEY, February 18, 2015 – WorldBusiness Capital, Inc.’s Eurasia Lending Team announced the signing of a Memorandum of Understanding (MOU) with Türk Eximbank regarding the development of an innovative Trade Financing Program designed to promote exports to, and investment in, the United States by Turkish businesses. Under the proposed program, WBC plans to offer term loans insured by Türk Eximbank for U.S.-based buyers of high-value-added products from Turkish suppliers and for U.S.-based projects involving Turkish investors and contractors. Türk Eximbank is the official export credit agency of the Turkish government and Turkey’s major export incentive instrument.
Loan Tranche Disbursed by WBC Expands Financing for Mexican SMEs
GUADALAJARA, MEXICO, November 3, 2014 – WorldBusiness Capital, Inc.’s Mexico Lending Team announced that it disbursed the final tranche of a $5 million long-term loan to Arrendadora y Comercializadora Lingo S.A. de C.V. SOFOM E.N.R. (Lingo), a commercial finance and equipment leasing company with headquarters in Guadalajara and a branch office in Queretaro. Lingo is using WBC loan proceeds to fund the expansion of its portfolio of loans and leases to SMEs in Mexico. In conjunction with the project, Amembal & Halladay and Leasconsulting Corp., recognized experts in the global leasing industry, are providing Lingo with specialized training in the areas of lease underwriting and administration.
WBC Closes Long-Term Loan to Support Mexican Agribusiness Sector
QUERETARO, MEXICO, October 1, 2014 – WorldBusiness Capital, Inc.’s Mexico Lending Team announced that it closed a $5 million long-term loan to Servicios y Financiamiento Agricola S.A. de C.V. SOFOM, ENR (Sefia), a commercial finance company headquartered in Queretaro. Pablo Rión y Asociados (Pablo Rión), an independent financial advisory firm, advised Sefia on the transaction. Sefia will use the WBC loan proceeds to finance the agribusiness sector in northern Mexico. Sefia operates through 18 branch locations and offers attractive loans for borrowers in the agricultural and livestock industries to purchase new equipment.
WBC Finances U.S. Buyers of Indian-Made Machine Tools
RAJKOT, INDIA and DES PLAINES, ILLINOIS, February 18, 2014 – WorldBusiness Capital, Inc.’s India Lending Team, led by Scott Freiday, Senior Vice President and Managing Director-India, and Rohit Choudhary, Vice President and Director-India, closed an innovative medium-term loan for a U.S.-based technical training school to purchase machine tools manufactured and exported by Jyoti CNC Automation Ltd. of Rajkot, India. The loan, structured with the assistance of WBC’s Chief Lending Officer, Rob Monyak, financed the sale of Indian- made machine tools in the U.S. market.
Top Indian Micro-Finance Institution Receives ECB Term Loans from WBC
MUMBAI, INDIA, January 3, 2014 – Grama Vidiyal Microfinance Ltd., based in Tamil Nadu and advised by Avendus Capital, a leading Indian investment bank, has received both senior and subordinated debt financing from WorldBusiness Capital, Inc. WBC’s India Lending Team, headed by Scott Freiday, Senior Vice President, and assisted by Rohit Choudhary, Vice President, managed the Grama Vidiyal transaction and plan to expand medium and long-term lending for financial institutions and industrial businesses throughout India.
Mexico’s Equipment Leasing Industry Attracts WBC Financing
GUADALAJARA and MEXICO CITY, MEXICO, October 4, 2013 – During the first week of October, WorldBusiness Capital, Inc.’s Chief Lending Officer, Robert Monyak, and Senior Vice President & Mexico Lending Team Leader, Joseph Raycraft, visited Mexico to complete due diligence on new term loan facilities for three Mexican equipment leasing companies. WBC already has an 8-figure portfolio of U.S. dollar loans to leasing companies in Mexico and is highly committed to offering attractive financing for this industry.
Small Business Exporters Association Award Received by WBC
WASHINGTON, D.C., June 3, 2008 – The Small Business Exporters Association – the international trade council of NSBA – awarded its highest recognition for a lender, the Robert Duncan Award, to WorldBusiness Capital, Inc., of Hartford, Connecticut, at a ceremony in Washington, DC. An innovative small-business lender, WorldBusiness Capital, Inc. was honored for its success in helping small U.S. companies enter challenging foreign markets.
WBC and OPIC Sign Innovative Small Business Lending Partnership
WASHINGTON, D.C., July 30, 2003 – The Overseas Private Investment Corporation (OPIC) and small business lender WorldBusiness Capital, Inc. (WBC) have entered into a cooperative agreement that will expand support for U.S. small businesses investing overseas and enhance the activities of OPIC’s Small Business Center.