Tangelo commences disbursement of $45m DFC credit line
Tangelo, Latin American financial technology company specialising in alternative credit, announces that it made its first disbursement of the approved credit in 2020 with the US Development Finance Corporation (DFC). This disbursement amounts to $10.2m (£8.5m) and is guaranteed by Tangelo's accounts receivables. The purpose of the loan is to finance SMEs in Mexico and support their economic development. DFC approved a credit line to Tangelo for $45m (£38m) the company expects to use the rest of the facility in the following quarters.
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Posted on Jul 21, 2022 Region: Mexico
SME finance, receivables finance
