TriLinc Global Impact Fund, an impact investing fund that provides growth-stage loans and trade finance to established small and medium enterprises (SMEs) in developing economies, has recently approved $6.42m in trade finance transactions to companies in Namibia and South Africa.

On September 8, 2015, TriLinc funded $1m as part of an existing $2m purchase and repurchase trade finance facility at a fixed interest rate of 12.00% to a Namibian consumer goods importer and distributor.

The transaction, set to mature on March 3, 2016, is secured by rice and sugar inventory.

The borrower anticipates that TriLinc financing will support job creation in a region noted for its high unemployment.

Between September 8 and September 30, 2015, TriLinc funded four transactions totaling $4.01m as a part of two separate trade finance facilities with a total commitment size of $9.5m to a South African electronics company.

With a fixed interest rate of 13.00%, all transactions are set to mature between January 7 and January 29, 2016 and are secured by receivables as well as specific inventory being imported into South Africa from Asia.

The borrower anticipates that TriLinc financing will support employment generation.

On September 9, 2015, TriLinc funded $1m as part of a new $2m purchase and repurchase trade finance facility at a fixed interest rate of 13.00% to a South African industrial chemicals distributor.

The transaction, set to mature on November 24, 2015 is secured by specific inventory.

The borrower anticipates that TriLinc financing will support job creation.

On September 17, 2015, TriLinc funded $316,322 as part of an existing $2.5m revolving senior secured trade finance facility at a fixed interest rate of 15.00% to a South African textile distributor.

Set to mature on December 16, 2015, the transaction is secured by specific inventory being imported into South Africa from Asia.

The borrower anticipates that TriLinc financing will support employment generation.

“TriLinc’s recent investments in Sub-Saharan Africa are representative of its commitment to supporting growth and prosperity throughout the region,” said Gloria Nelund, TriLinc CEO.

“Driving this commitment is TriLinc’s support and financing of locally-owned small and medium-sized enterprises, which act as catalysts for economic growth and engines of social development in the communities where they operate.”

TriLinc invests in SMEs through experienced local market sub-advisors, and expects to create a diversified portfolio of financial assets consisting primarily of collateralized private debt instruments.

As of September 30, 2015 TriLinc’s total financing commitments for business expansion and socioeconomic development through its holdings in Sub-Saharan Africa and Latin America accounted for $99.35m.