IDB Invest and Bladex support access to financing for Chile’s SMEs through Tanner

Tanner Servicios Financieros S.A. (Tanner), a non-bank financial institution in Chile targeting small and medium-size enterprises (SMEs), has received financing totaling US$168 million to support the development of local SMEs.

The syndicated operation between IDB Invest and the multilateral development bank Bladex has a repayable term of up to five years. IDB Invest will provide US$20 million, Bladex US$20 million and a record US$128 million to be financed through the mobilization of 10 European, Asian and Latin American commercial banks and institutional investors.

The proceeds of this transaction will broaden Tanner’s sources and alternatives for longer-term financing, facilitating a more stable and predictable management of its funding. The proceeds will be used to grow Tanner’s SME portfolio.