ICS OCN TOTAL LEASING AND FINANCE S
Status: Completed investmentWhy disclosure?
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In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
ICS Total Leasing & Finance S.A. (TLF) was established in 2006 to provide financial leases to micro, small and medium-sized enterprises (MSMEs). The lease portfolio mainly consist of motor vehicles and equipment leasing. In 2010, in addition to leases, TLF started with lending to MSMEs. With only operating through one office (no other branches), TLF has a low cost structure. Besides being a lender, FMO is a 25 percent shareholder of the institution.
What is our funding objective?
FMO has provided TLF with a senior secured loan of EUR 3 million and a tenor of 5 years. Thanks to TLF's outreach to the rural area and good market position, our loan will facilitate access to finance to local entrepreneurs whom otherwise would have little access to (long-term) financial services. This will enable the end-clients to develop their businesses and improve their livelihoods.
Why do we fund this investment?
For institutions in Moldova, the poorest country in Europe, it is hard to find long-term funding. With this loan, TLF will be able to continue its business and facilitate economic growth also outside the (larger) cities. This is in line with FMO's broader strategy to increase access to finance.
- Region
- Europe & Central Asia
- Country
- Moldova, Republic of
- Sector
- Financial Institutions
- Effective date
- 12/9/2015
- End date
- 9/16/2020
- Total FMO financing
- EUR 3.00 MLN
- Funding
- MASSIF
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - C