Bayport Secures $110 Million USD Loan from BBVA for Expansion in Colombia

Bayport, a subsidiary of Bayport Management Ltd. (BML), has obtained a loan of $110,000 million USD from BBVA, with support from the National Guarantee Fund (FNG). The funds are intended to facilitate new loans to Colombians, particularly those without established credit histories or who have been excluded from traditional banking services.

Bayport currently holds a portfolio of $1.3 billion in Colombia and aims to utilize this new capital to broaden its reach and provide more accessible credit solutions. The agreement is reportedly supported by the FNG, which provides guarantees to facilitate credit access within Colombia.

Lilian Perea, CEO of Bayport Colombia, stated that the funding agreement reflects market confidence in Bayport’s operations and its commitment to financial inclusion. Perea also acknowledged the support of BBVA, the FNG, and Equilibrio Capital for their assistance in securing the guarantee with FNG.

BBVA Colombia’s Vice President of Business and Governance, Sergio Lizarazo, noted that this operation aligns with BBVA’s commitment to promoting financial inclusion. BBVA states that it aims to support companies like Bayport that are working to provide financial resources to underserved populations.

The allocated resources will be directed toward originating loans designed to empower Colombians financially, offering capital for various purposes, including entrepreneurship, home improvements, education, and healthcare. Bayport will prioritize individuals traditionally excluded from the financial system due to a lack of credit history or previous reporting to credit bureaus.

Bayport focuses on providing payroll loans to pensioners, public sector employees, and members of the military and police. The company also offers financial education resources through its website and social media channels.

Photo of Lilian Perea provided courtesy of Bayport Colombia.