Media: Press Releases | 14 January 2021
New York and Mexico City, 8 January 2021 – Global law firm Hogan Lovells represented the U.S. International Development Finance Corporation (“DFC”) in a US$100 million loan to Crédito Real to support loans to small and medium enterprises (SMEs) in Mexico.
The loan, which will focus on reaching businesses owned or led by women, will address a significant credit gap faced by small business in Mexico where, even before the economic impacts of COVID-19, only an estimated 15 percent of SMEs’ financing needs were met.
The US$100 million loan comes as part of a recent approval by DFC for investments this quarter totaling more than US$2.5 billion across nine projects that will advance development in Africa, Latin America, and emerging markets across the globe.
The Hogan Lovells team was led by partner Ricardo S. Martinez in New York and partner Federico De Noriega in Mexico City. The cross-border team included senior associates Andrew Ceppos and Christopher Bonilla in New York, as well as counsel Maria Aldonza Sakar Almirante and associate Juan Enrique Lizardi in Mexico City.
More information can be found in DFC’s press release here.