Manhattan Beach-based TriLinc Global Impact Fund has provided an additional $7 million in trade finance to a mobile phone distributor operating in Southeast Asia.
“TriLinc has extended over $50 million in financing to the mobile phone distributor since July 2017 in order to support the company in scaling its distribution network in the Indian market,” said TriLinc CEO Gloria Nelund.
The Hong Kong-based mobile phone distributor, whose identity was not disclosed, specializes in the trading and distribution of mobile phones, cameras, music players and home appliances. The borrower was appointed to be the exclusive distributor in India of mobile phones for a multinational networking and telecommunications equipment company.
Since its inception in 2008, TriLinc has provided total financing commitments through Nov. 30, 2018, of $442.8 million for business expansion and socioeconomic development through its holdings in Sub-Saharan Africa, Latin America, Southeast Asia, and Europe.
TriLinc, which makes public filings with the U.S. Securities and Exchange Commission but is not traded on stock exchanges, is an impact investing fund that provides growth-stage loans and trade finance to established small and medium business enterprises in developing economies where access to affordable capital is significantly limited.
Finance reporter Pat Maio can be reached at firstname.lastname@example.org or (323) 556-8329.
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