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Goldman's $100m credit line to Credijusto, a 4yr old alternative lender in Mexico, from their special situations group in New York is the latest example of a growing market of alternative lenders to local business in emerging markets.
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Chop Chop turned to Credijusto and within days had a loan for 980,000 pesos (about $50,000), with an annual interest rate of 27%. It used the money to order parts from China, Japan and South Korea. “In Mexico, you can open up a business in three weeks flat, but growth is a whole other problem,” said Andrés Vera, one of four partners who own the company. “It’s easy to get stuck on the same street corner, with a nice little shop, for years and years before you can expand.”
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