By: Ariana Méndez Lugo, Inspenet, December 9, 2021
The use of digital media for the origination of the non-bank financial entity, Credivalores, has had a positive impact on disbursement times of credit funds among the Colombian population.
Credivalores is a non-bank financial company based in Colombia, which over the years has become a leading provider of consumer loans and micro-insurance to the segment of the population that has limited access to credit and has currently issued credit notes #17 under the ECP program (Euro Commercial Paper Program) in the international capital market, which is close to US$ 417 million issued for seven years.
After this issuance, the current amount of the program is located at the end of the ninth month of the year, at US$75 million and is covered in its entirety, in Colombian pesos. It is worth mentioning that the Euro Commercial Paper Program has a quota of up to US$150 million with three years of issuance terms whose notes have an annual coupon of 8.75% with quarterly payments and its expiration date is March 16, 2023.
But what is the vision of Credivalores? With the resources obtained, they will attend to the growth of the credit portfolio and will cover general uses of the company, of which the refinancing of 100% of current financial commitments of this program in the year 2021 and through this numerical movement can be mentioned, the company secures its funds for the financing plan that sees new sources of funding and refinancing.
At the end of the first half of 2021, more than 80% of the entity’s loan origination was by digital means, which had a positive impact on disbursement times.
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