EDPYME ACCESO CREDITICIO S.A.
Status: Approved investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Acceso Crediticio is a taxi leasing company in Lima.
What is our funding objective?
Financial inclusion.
Why do we fund this investment?
Acceso's financing makes possible that, with one year of experience as a taxi driver in Lima, the drivers can purchase their own taxi. Most of Acceso’s clients would not be eligible for any regular car leasing schemes, given their lack of credit history. Through a system of loan repayments at the gas station and a car maintenance model with high Acceso involvement, these taxi drivers become bankable. Additionally, as the taxis are CNG fueled, the emissions of the Acceso financed taxis are lower than for petrol fueled cars, leading to relevant CO2 avoidance. As this funding transaction is highly inclusive and given the relatively high credit risk profile of the institution, the transaction will be financed from MASSIF. We will lend the local currency equivalent of USD 10 million to Acceso for 4.5 years. This transaction is a follow-up of a smaller loan provided by Locfund, a regional microfinance fund of which FMO, through the MASSIF fund, is a founding shareholder.
More investments
| Date | Total FMO financing |
|---|---|
| 12/11/2019 | USD 10.00 MLN |
| 3/29/2019 | USD 15.00 MLN |
- Region
- Latin America & The Caribbean
- Country
- Peru
- Sector
- Financial Institutions
- Effective date
- 12/7/2015
- Total FMO financing
- USD 10.00 MLN
- Funding
- MASSIF
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - C