2024 News
Mexican Lender Sofoplus Gets $10 Million Bancomext Loan from WBC Supporting SME Exporters
MEXICO CITY, MEXICO, December 27, 2024 - WorldBusiness Capital, Inc. (WBC) announced a $10 million term loan with Bancomext’s support to Mexican lender Sofoplus, which offers financing to help build the export capacity of small and medium businesses. Harry Sacal, CEO of Sofoplus, commented, “We greatly appreciate the trust placed in us by WBC and Bancomext, as well as their financial support.” WBC Managing Director David Santos, remarked, “We are very pleased to work with Sofoplus in their effort to foster the international competitiveness of Mexico’s economy.”
WBC’s $10 Million DFC Loan to Ecuador's Financial Co-op 23 de Julio Boosts Credit Availability
CAYAMBE, ECUADOR, December 20, 2024 - WorldBusiness Capital, Inc. (WBC) closed a significant new $10 million term loan backed by DFC to Quito-based financial cooperative, 23 de Julio. Monica Nicolalde Castillo, GM of 23 de Julio, expressed her organization’s gratitude for funding that will enable increased credit availability for Ecuador’s small businesses and entrepreneurs. Joseph Cuevas, WBC Managing Director of Lending in Latin America, said, “WBC looks forward to an excellent long-term relationship with 23 de Julio and plans to further expand its business initiatives in Ecuador.”
Michigan’s Wolverine Metal Stamping Expands in Mexico with WBC’s $10 Million Bancomext Loan
SAINT JOSEPH, MICHIGAN, November 12, 2024 - WorldBusiness Capital (WBC) closed a $10 million term loan to Michigan-based Wolverine, with proceeds used to expand production and finance working capital needs in Mexico. Colin Heneghan, WBC’s Senior Vice President of U.S. and Mexico Lending, commented, “WBC is delighted to support Wolverine’s continuing expansion in Mexico including additional hires, enabling the company to fulfill contracts with U.S. customers. This transaction highlights the benefits of WBC’s guaranteed lending partnership with Bancomext, Mexico’s international trade development bank, for U.S.-Mexican industrial supply chains.”