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IFC Provides MXN$350 Million Loan to Altum Capital

Mexico City, Mexico – WEBWIRE

The International Finance Corporation (IFC), a member of the World Bank Group, has provided a MXN$350 million loan (US$18 million equivalent) to Altum Capital, a private debt fund that seeks to expand financial inclusion in Mexico by providing financing to non-banking financial institutions and directly to small and medium enterprises (SMEs) with the objective of providing financial tailor made solutions. 

In order to reduce the financing gap that afflicts the country, around 60 percent of the loan will be used to support microfinance and small and medium-sized Mexican companies. The rest will consist of loans for housing and individuals. The companies financed by Altum Capital currently have limited access to financing from banks. Thanks to this loan, Altum Capital has the opportunity to increase coverage of credit and provide a better service to its clients. 

Ary Naïm, Country Manager of IFC said: “By serving the needs of many specialized financial institution, this initiative with Altum Capital constitutes a new tool to improve our efforts in financial inclusion. As they grow and develop, these institutions will have a positive impact on job creation and income generation across the country.” 

According to World Bank Group´s estimates, by expanding the effectiveness of existing financial inclusion efforts like the one represented by Altum Capital, Mexico can enable a large sector of the population to have access to a bank account and other financial services. Founded in 2014, Altum Capital is managed by Legorreta Gómez y Asociados (LG&A). Backed by a team of experienced banking and financial professionals, Altum Capital investment philosophy is to support companies that encourage credit to markets that are unattended by traditional banks. 

Eduardo Legorreta, Director of Altum Capital said: “We want Altum to be the investment alternative to participate in Mexico’s private debt industry for our investors, a market with low credit penetration and with a great opportunity to grow. This loan facility allows Altum to provide more financing alternatives to SMEs in Mexico and to continue to promote financial inclusion throughout the country”. 

IFC´s strategy to promote financial inclusion in Mexico entails supporting responsible intermediaries and leveraging them to meet development impact and financial sustainability goals. In 2017, IFC’s committed long-term Micro, Small and Medium Enterprises (MSMEs)-focused portfolio was US$12 billion, of which 18 percent was in Latin America and the Caribbean. In addition, IFC had 215 active MSMEs-related advisory projects valued at US$225.5 million. 

More about IFC: 
IFC—a sister organization of the World Bank and member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work with more than 2,000 businesses worldwide, using our capital, expertise, and influence to create markets and opportunities in the toughest areas of the world. In FY17, we delivered a record $19.3 billion in long-term financing for developing countries, leveraging the power of the private sector to help end poverty and boost shared prosperity. For more information, visit

More about Altum Capital: Altum Capítal is a private debt fund managed by LG&A which invest in senior secured structured debt to None Bank Financial Institutions and SMEs in Mexico. LG&A has 4 years of experience and a team of 18 professionals. Since inception in 2014, Altum has provided loans for more than MXN$2,600 million in  65 different investments. During the 4 years of work and in support to the country’s sustainable growth, Altum can proudly confirm that it has become a promoter of increasing financial inclusion within Mexico by reaching directly or indirectly with loans to more than 1.8 million SMEs and individuals. For more information, visit 

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