ImpactAlpha, April 11 — Blue like an Orange Sustainable Capital, the investment firm launched by former World Bank officials to unlock debt financing for businesses advancing the Sustainable Development Goals in Latin America, provided the $10 million in subordinated loans.
Lima-based Acceso’s main product is an asset-backed lending program for taxi drivers, truck and bus fleet operators and owners to convert their vehicles from gasoline-based engines to lower-emissions natural gas. The conversion can help reduce the Peruvian transportation sector’s carbon footprint by 20%, says Acceso.
Credit gaps
Acceso lends to underbanked and unbanked borrowers in Peru, three out of every four of which don’t have access to any other lending options. It also provides loans to migrant populations in Peru, particularly from Venezuela.
Peru’s government is aiming to reduce its dependence on imported oil by expanding the use of natural gas. The investment is Blue like an Orange’s 14th investment and second in Peru.
Financial inclusion
L.A.-based Camino Financial secures a $150 million debt facility from Community Investment Management to provide $1 billion in loans to underserved U.S. microbusinesses by 2023.
Colombian fintech Finkcargo raises $7.5 million in a round led by Quona Capital to provide affordable financing for small and medium-sized importers in Latin America.
