TriLinc Global Impact Fund has provided $16.6m in term loan and trade finance transactions to small and medium enterprises (SMEs) in South Africa, Zambia, Namibia, and Nigeria.

Gloria Nelund, TriLinc CEO, said: “TriLinc’s recent investments in Sub-Saharan Africa seek to support the backbone of economic development throughout the region: locally-owned and operated SMEs.”

“From Nigeria to South Africa, TriLinc has provided timely and flexible financing to local growth-stage enterprises that seek to enhance their competitive positioning in both domestic and international markets while creating lasting economic and social value in the communities where they operate,” she said.

TriLinc approved the term loan and trade finance transactions, which meet the Company’s requirements for underwriting, economic development and societal advancement, as described below:

Between July 2 and July 31, 2015, TriLinc funded four separate transactions totaling $499,494 as part of an existing $2,500,000 revolving trade finance facility at a fixed interest rate of 15.00% to a South African textile distributor.

All transactions are set to mature between October 1 and October 27, 2015 and are secured by specific inventory being imported into South Africa from Asia.

The borrower anticipates that TriLinc financing will support employment generation.

On July 7, 2015, TriLinc funded $2,500,000 as part of an existing $10,000,000 trade finance facility at an interest rate of 12.50% to a Zambian farm supplies distributor engaged in the warehousing and trading of key agricultural commodities including fertilizer, maize, soya beans, ground nuts and seed.

The transaction, set to mature on October 7, 2015, is secured by specific inventory.

The borrower anticipates that TriLinc financing will support job creation and indirectly help local farmers improve agricultural productivity and food security.

On July 16, 2015, TriLinc funded $1,000,000 as part of an existing $2,000,000 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 November 13, 2015, is secured by rice and sugar inventory.

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

On July 23, 2015, TriLinc funded $12,600,000 as part of a new $16,050,000 senior secured five-year term loan commitment to a locally-owned Nigerian marine logistics provider.

The $12.6 million funding will accrue interest at a variable rate of one month Libor +10.5% plus 5.13% in deferred fixed interest.

The loan has an expected maturity date of 60 months following its utilization date, which is currently scheduled for August 31, 2015.

It is anticipated that TriLinc financing will enable the company to pursue its long-term growth objectives while supporting employee capacity-building initiatives and employment generation.

TriLinc is an impact investing fund that provides growth-stage loans and trade finance to established small and medium enterprises (SMEs) in developing economies where access to affordable capital is significantly limited.

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 July 31, 2015 TriLink’s total commitments for business expansion and socioeconomic development through its holdings in Sub-Saharan Africa and Latin America, accounted for $86.9m.