2020 News
Ecuador Cooperative Jardin Azuayo Obtains Loan of $10 Million From WBC Guaranteed by DFC
CUENCA, ECUADOR, December 11, 2020 – WorldBusiness Capital, Inc. (WBC) announced the closing of a $10 million, 10-year commercial loan to Ecuador-based Cooperativa de Ahorro y Crédito Jardin Azuayo Ltda. (Jardin Azuayo). WBC’s loan is guaranteed by U.S. International Development Finance Corporation (DFC), America’s development bank, which partners with the private sector to finance solutions to the most critical challenges facing the developing world today. Proceeds of WBC’s $10 million loan will be used by Jardin Azuayo to support their co-op members by providing loans to micro-enterprises and SMEs in Ecuador.
WBC Provides $15 Million to India’s Avanse Financial for Educational Loan Programs
MUMBAI, INDIA, September 30, 2020 – WorldBusiness Capital, Inc. (WBC) announced the closing of a $15 million, 10-year commercial loan to India’s Avanse Financial Services Limited (Avanse). WBC’s loan is guaranteed by the United States International Development Finance Corporation (DFC), the U.S. Government agency that helps small and medium businesses invest in emerging markets. Funds from the loan will enable Avanse to expand its business of making educational loans to Indian students pursuing educational opportunities in India and other countries.
WBC, CohnReznick, Robinson+Cole Host Webinar on Loans for Mexican Operations of U.S. Firms
WEBINAR, September 22, 2020 – Please join us for a discussion about an innovative debt financing option for U.S. companies planning to expand their operations in Mexico. With WBC’s unique long-term loan program, U.S. companies no longer have to use their credit availability with U.S. lenders to finance Mexican subsidiaries and affiliates: WBC’s loans are secured only by assets in Mexico. Our panel will be moderated by Jeff White, Partner at Robinson+Cole, and includes Jeffrey W. Rossi, Managing Partner at CohnReznick, and Brett N. Silvers, President & CEO of WorldBusiness Capital, Inc. WBC’s experienced Mexico Lending Team also will be available to answer questions.
DFC’s $3.6 Billion of New Q4 Investments Include Guarantees Supporting Four WBC Loans
WASHINGTON, D.C, September 9, 2020 – The U.S. International Development Finance Corporation (DFC) Board of Directors has approved investments this quarter totaling more than $2.5 billion across nine projects that will advance development in Africa, Latin America, and emerging markets across the globe. An additional 30 investments totaling more than $1 billion, including guaranties for WBC loans in Colombia, Ecuador, El Salvador, and India totaling $45 million, were approved by the agency since its last quarterly Board meeting in June, bringing total investments approved over the quarter to more than $3.6 billion – DFC’s largest quarter ever.
Mexico Takes the Lead! And Stands to Reap Benefits from Shifting Global Supply Chains
HARTFORD, CONNECTICUT, July 2, 2020 – A lead change in soccer is an exciting time…assuming of course that your team has just taken the lead. You cheer and hope that your team can hold the lead. In international trade and investment, the game has been ongoing for decades. And the U.S.-Mexico team has been a dominant team on the field. The new United States-Mexico-Canada Agreement (USMCA) was implemented on July 1st. Mexico is now well-positioned to benefit from shifts in global supply chains brought about today’s unprecedented economic and health uncertainties. A 2020 PwC study estimates that U.S. manufacturers who move production from China could cut operating costs by an additional 23% if they near-shore to Mexico.
Gotham Greens High-Tech Facilities in Baltimore and Providence Financed by WBC
BALTIMORE, MARYLAND and PROVIDENCE, RHODE ISLAND, May 12, 2020 – WorldBusiness Capital, Inc. (WBC) salutes the recent openings of two new, state-of-the-art 100,000 square foot greenhouse facilities owned and operated by Gotham Greens in Baltimore, MD and Providence, RI. The greenhouses use advanced agricultural growing methods, including hydroponics, data-driven climate control intelligence and renewable energy, while using 95 percent less water and 97 percent less land than conventional farming. The WBC team provided long-term financing for these projects, which are located on former industrial sites in both cities.