Company name

Creditas Soluções Financeiras Ltda.

Project number

13113-01

FI-3 operations are those where the risk potential is considered low: the FI’s current or future portfolio consists of financial exposure to business activities that predominantly have minimal or no adverse environmental and social impacts.

E&S category
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FI-3

Country

Brazil

Sector

Telecommunications, Media and Technology

Status

In implementation

Disclosed date

06/15/2020

Projected date at which a project will be put forward for the Board of Executive Directors’ approval.

Projected board date
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11/24/2020

Approval date

11/24/2020

Signed date

12/31/2020

Team leader

Arauz, Gonzalo C.

Investment type

Financing requested

N/A

Syndicated amount

N/A

Financing amount

USD $ 28,668,100

Currency

BRL

Project scope and objective

IDB Invest is considering an up to US$30 million (equivalent in Brazilian Reais) loan for Creditas, a leading digital lending platform focused on secured loans in Brazil. Creditas is able to offer loans at affordable rates by using (i) technology and data analytics to increase efficiency in both distribution and operational efforts, (ii) collateralization of loans with real estate, automobiles, and payroll, (iii) multiple sources of funding that reduce financial cost and dependency on individual investors. Creditas transfers this increased efficiency to the borrower as a product with lower interest rate, longer maturity, and larger ticket sizes. The proposed use of proceeds of the loan is to fund loans to MSMEs and vulnerable population affected by the COVID-19 crisis in Brazil.



Despite Covid-19, Creditas has proved digital origination of complex secured loans is part of the solution and essential to ensure liquidity to people and companies in need.


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Environmental and social review

IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. Any gaps with respect to the IDB Invest Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) provided below.

ENVIRONMENTAL AND SOCIAL REVIEW

44.1 Kb

CREDITAS - ESRS PUBLIC DISCLOSURE CREDITAS 11

122.9 Kb

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Contact information

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Alternatively, you may also use the following contact information:

Client Contact

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POSITION

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PHONE NUMBER

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EMAIL

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IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

COUNTRY OFFICES

IDB Invest Country Offices