LOS ANGELES–(BUSINESS WIRE)–TriLinc Global Impact Fund announced today that it recently acquired $11,124,078 of participations in two term loan facilities, in Africa. The transaction details are summarized below.
TGIF is an impact investing company that provides growth-stage loans and trade finance to established small and medium enterprises primarily in developing economies where access to affordable capital is significantly limited. Impact investing is defined as investing with the specific objective of achieving a competitive financial return as well as creating positive, measurable impact in communities across the globe.
TGIF recently approved four transactions totaling $11,124,078 that meets TGIF’s requirements for underwriting, economic development, and societal advancement, as described below:
On July 6, 2021, TGIF funded $486,401 as part of a new four-year term loan facility to a grain processor formed in the United States and operating in Uganda. Priced at 13.5%, this transaction is set to mature on July 8, 2024. As part this facility, TGIF funded three additional transactions to the grain processor’s Uganda-based operating subsidiary between July 6 and July 14, 2021, totaling $10,637,677. Priced at 11.5%, these transactions are set to mature on June 30, 2025. The facility will support the borrower’s ability to provide financial liquidity to its core farming and grain trading operations.
“By extending financing to the grain processor, TGIF is demonstrating its commitment to businesses that have positive environmental and social impact in Sub-Saharan Africa,” said Gloria Nelund, CEO of TGIF. “More specifically, we are confident that this financing will enhance the competitiveness of the grain processor and support the company’s steady growth trajectory during periods of limited capital availability.”
About TriLinc Global Impact Fund
TGIF is a public non-listed, externally managed, limited liability company that makes impact investments in SMEs, primarily in developing economies, that provide the opportunity to achieve both competitive financial returns and positive measurable impact. TGIF invests in SMEs through experienced local market sub-advisors to create a diversified portfolio of financial assets consisting primarily of collateralized private debt instruments. In addition, TGIF aggregates and analyzes social, economic, and environmental impact data to track borrowers’ progress and measure success against stated objectives.
