FinComBank Receives a Loan from the American OPIC
Horizon Capital, a private equity manager focused on mid-cap investments in Ukraine, Moldova and the region, announced today that FinComBank, a portfolio company, received a loan from the U.S. Overseas Private Investment Corporation (OPIC).
The loan agreement was signed on February 20, 2009, providing FinComBank a 10-year $6 million loan for Small and Medium Enterprises (SME) financing. SME financing is a key strategic market for FinComBank. The first tranche of $2 million is being disbursed today.
Commenting on the agreement, Victor Khvorostovsky, President of FinComBank, said: “In this challenging global financial climate, the loan agreement with OPIC is a remarkable achievement. We are very pleased that this money will enable us to further develop our small business client segment and help the Bank grow”.
Mark Iwashko, Co-Managing Partner of Horizon Capital said: “We are delighted that the Bank has been able to secure this funding, which will enable it to grow even during these challenging times. This is symbolic of the Bank’s financial and managerial strength, as well as the soundness of its business strategy...”
Horizon Capital
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