Previous Story
Bayport Colombia Receives The 1st $50 Million USD Of A $200 Million Credit Line By US Development Finance Corporation
Posted On June 30, 2021
Comment: Off
Bayport Colombia, a subsidiary of Bayport Management Ltd. announced today that it has received the first $50 million USD of a senior debt facility for $200 million granted to the operations of Bayport Colombia and Mexico by the US International Development Finance Corporation (DFC).
The resources will be used to grant credit opportunities through payroll lending, called Libranzas in Colombia, to pensioners and public sector employees who, due to reports in credit bureaus, cannot access the banking sector.
The US Government’s International Development Finance Corporation (DFC) partners with the private sector to finance solutions to the most critical challenges facing the developing world today.
According to Pablo Montesano, CEO of Bayport Latin America, securing DFC’s line of credit is a historic achievement, given the impact it will have on the business and its beneficiaries: “We enable our clients to take control of their financial well-being in the short and long term. term. With this additional funding, we can reach more people, positively influencing individuals, families, communities and even national economies.”
Bayport Colombia S.A. has maintained a profitable position for the last 5 years, while steadily increasing the size of its loan portfolio.
“As a company we have excellent financial health and the support of headquarters to operate in the Colombian market. We have maintained a profitable position, generating profits and value for our shareholders since 2016, closing 2020 with a capitalization ratio of 17.3%,” said Lilian Perea (above), CEO of Bayport Colombia.
“This has led us to have agreements such as with the DFC, that allow us to continue delivering financial inclusion and the possibility of fulfilling dreams to a sector of the population that is marginalized from the banking system,” she added.
Bayport Colombia S.A. offers financial solutions through payroll instruments, by entering into collaborative agreements with government institutions, which provides liquidity to the employees of said entities.
