2022 News
WBC Makes $15 Million DFC Loan to Alianza del Valle, Ecuador Savings and Credit Cooperative
QUITO, ECUADOR, December 30, 2022 - WorldBusiness Capital, Inc. (WBC) announced the closing of a $15 million long-term loan to Quito-based financial cooperative Alianza del Valle. The loan is partially guaranteed by United States International Development Finance Corporation (DFC), America's development bank. According to Alianza General Manager Hector Rolando Cadena Lucero, the cooperative will use proceeds of WBC's loan to promote financial inclusion, primarily by expanding lending programs for women-owned small businesses through its 13 offices located in the Province of Pichincha, Ecuador.
Mi Banco of El Salvador Wins DFC Guarantee Approval for $10 Million of New Funding from WBC
SAN SALVADOR, EL SALVADOR, December 12, 2022 - WorldBusiness Capital, Inc. (WBC) announced the closing of a $10 million loan to San Salvador-based Multi Inversiones Banco Cooperativo de los Trabajadores, S.C. de R.L. de C.V. (Mi Banco). United States International Development Finance Corporation (DFC) partially guarantees WBC’s loan, proceeds of which will be used by Mi Banco to fund growing demand for affordable local loans to lower-income individuals for home improvements, educational expenses, and heath care. Mi Banco CEO says the WBC loan will contribute to the bank’s mission of improving Salvidoreans’ quality of life.
Indian Microlender Sonata Obtains $8 Million of Growth Funding From WBC Backed by DFC
UTTAR PRADESH, INDIA, August 4, 2022 - WorldBusiness Capital, Inc. (WBC) announced the closing of an $8 million loan to India’s Sonata Finance. WBC’s loan is partially guaranteed by United States International Development Finance Corporation (DFC). The funding provided by WBC will enable Sonata to offer attractive, cost-effective microfinance loans fostering business opportunities for entrepreneurs throughout Northern and Central India using the proven “self help group lending model.” Sonata Managing Director Singh said WBC’s loan to Sonata will help empower women entrepreneurs and generate employment in rural areas.
WBC Closes $7.5 Million DFC Loan to Paraguay’s Finexpar Broadening Capital Access for SMEs
ASUNCION, PARAGUAY, July 5, 2022 - WorldBusiness Capital, Inc. (WBC) announced the closing of a $7.5 million long-term loan to Asuncion-based Financiera Finexpar S.A.E.C.A. (Finexpar). WBC's loan is partially guaranteed by U.S. Development Finance Corporation (DFC), America's development bank, which helps the private sector finance solutions to critical challenges facing the developing world. Finexpar will use proceeds of WBC's loan to expand its lending to meet growing demand for attractive capital among Paraguay’s small and medium companies.
WBC’s $7.5 Million Bancomext Loan for INOX Mexico Helps Drive Strategy in North America
QUERÉTARO, MEXICO, June 17, 2022 - WorldBusiness Capital, Inc. (WBC) announced the closing of a long-term loan for $7.5 million to IMM INOX Market Messico, the Mexican affiliate of Italian stainless steel products manufacturer INOX Market Group. This Bancomext-backed second loan from WBC follows the lender’s recent $8.5 million USDA loan for construction and operation of INOX’s new manufacturing facility in Indiana. With modern operations in both Mexico and the United States, INOX now has a big competitive advantage in obtaining and servicing customers throughout the dynamic North American market.
U.S. Soy and Wheat Seed Processor Receives $10 Million USDA-Backed WBC Expansion Loan
HARTFORD, CONNECTICUT, April 20, 2022 - A company representing a critical link in America’s agribusiness supply chain received a $10 million loan under the U.S. Department of Agriculture (USDA) Business & Industry Guaranteed Loan Program, according to lender WorldBusiness Capital, Inc. (WBC). This leading seed processor is using WBC loan proceeds for capacity expansion and to increase distribution of existing and new products. Loan proceeds are being used for capacity expansion and product development.
U.S. Components Manufacturer Gets $7.5 Million Bancomext Loan from WBC for Mexican Affiliate
HARTFORD, CONNECTICUT, March 28, 2022 - The rapidly growing Mexican affiliate of a U.S. Midwest metal components manufacturer received a $7.5 million term loan from WorldBusiness Capital, Inc. (WBC) supported by Bancomext, the Mexican Government export credit and development agency. WBC enjoys a unique and innovative loan guarantee partnership with Bancomext to support U.S. and European direct investments in Mexico, and help Mexican businesses compete in the international marketplace.
Leading Peruvian Financial Co-op Pacifico Obtains $10 Million WBC Loan With DFC Backing
LIMA, PERU, February 3, 2022 - WorldBusiness Capital, Inc. (WBC) announced the closing of a $10 million term loan to Lima-based Cooperativa de Ahorro y Credito Pacifico (Pacifico). WBC’s loan, which is partially guaranteed by the U.S. International Development Finance Corporation (DFC), will help Pacifico expand its lending to meet the capital needs of small, medium, and women-led businesses located primarily outside the Lima metropolitan area. Pacifico is a regulated financial cooperative established in 1970 that offers a full suite of financial services including deposits, loans, and payment processing to its members.
India-Based SK Finance Obtains $15 Million DFC Loan From WBC Assisting Small Businesses
RAJASTHAN, INDIA, January 27, 2022 - India’s SK Finance Limited, a successful and innovative regional provider of capital to small businesses and entrepreneurs, has received an attractive $15 million long-term loan from WBC backed by United States International Development Finance Corporation (DFC), America’s development bank. WBC’s funding will support increased lending by SK through its 400 branch network and provide growth opportunities for hundreds of thousands of new and existing business customers, especially for their purchase of commercial vehicles.
Italy's INOX Group Opens Indiana Steel Plant With $8.5 Million USDA Loan From WBC
MUNCIE, INDIANA, January 10, 2022 - INOX Market Group, headquartered in Padova, Italy, opened its first stainless steel production facility in the United States, with financing provided by WorldBusiness Capital, Inc. (WBC). The new 130,000 sq. foot facility is located in Muncie, Indiana, and will produce products for the company’s U.S. customers engaged in manufacturing appliances and industrial items. WBC’s $8.5 million loan is partially backed by a guarantee from the U.S. Department of Agriculture (USDA). INOX’s new Indiana operation complements its existing Mexican subsidiary in supporting the company’s North America market presence.
Italian Manufacturer Tesmec Expands Texas Facility With WBC $10 Million USDA Loan
ALVARADO, TEXAS, January 3, 2022 - Tesmec USA, Inc., the American subsidiary of an Italian multi-national manufacturer of trencher equipment for the telecommunications and utility industries, received a $10 million loan from WorldBusiness Capital, Inc. (WBC) backed by the U.S. Department of Agriculture (USDA). Tesmec is using WBC loan proceeds to expand manufacturing capacity at its Texas facility and support the operations of a new national equipment rental business from that location. Tesmec joins a growing number of European companies investing in the North American market with financial resources provided by WBC.