WorldBusiness Capital Closes $10 Million OPIC-Guaranteed Loan to Kenya’s Victoria Commercial Bank Providing Funding for Small and Women Owned Businesses
NAIROBI, KENYA – WorldBusiness Capital, Inc. (WBC) announced the closing of a $10 million, 10-year commercial loan to Victoria Commercial Bank Limited (VCB) of Kenya. WBC’s loan is guaranteed by Overseas Private Investment Corporation (OPIC), the U.S. Government agency that helps American businesses invest in emerging markets. The financing will provide a long-term funding source for Victoria to support its small and medium-sized enterprise (SME) lending in Kenya, retaining a sizeable portion for woman owned and managed enterprises and “green” loans. In addition to the support for SMEs in Kenya, the developmental impact of the proposed WBC loan is enhanced by a number of socially responsible initiatives in Kenya that VCB currently sponsors.
