Perez Correa Gonzalez (PCG) represented U.S. International Development Finance Corporation (DFC) in securing the first disbursement of USD$10.2 million to Tangelo under a USD$45 million credit facility, a technology company specializing in alternative lending. This financing will be used to benefit Mexican SME´s and their economic development. PCG also represented DFC in the negotiation and structuring of the credit facility, which was approved in October 2020.
DFC is the development bank of the United States. DFC partners with the private sector to provide financial solutions to address the most critical challenges that emerging markets face, investing in sectors including energy, healthcare, critical infrastructure, and technology. DFC's investments adhere to high standards of environmental protection, human and employee rights.
Tangelo is a LATAM technology company specialized in alternative lending with more than 25 years of experience developing financial solutions for local SME's. Tangelo resulted from the merger of Mexarrend, S.A.P.I. de C.V. with Zinobe In order to transform the access to credit in Latin America.
The PCG team was led by Fernando Eraña, partner in the Banking and Finance practice at PCG, and by associate Carlos Ugalde.