Kawa Capital Management, Inc. today announced the funding of a USD11.25 million loan to ExcelCredit SAS, an established provider of pension and salary advances to Colombian civilians and employees of certain Colombian federal agencies.
The funding of this loan was accomplished primarily on Kawa’s online investor platform, which allows accredited investors to invest in institutional quality deals. The loan was funded pursuant to loan participations sold by a special purpose vehicle owned by Kawa Capital Management, Inc.
The loan is secured by a pool of roughly 2,600 loan advances made to existing ExcelCredit borrowers, and will broaden the company’s funding sources and boost its origination capabilities. Each advance is repaid by a Colombian federal agency, so Kawa believes the primary credit risk associated with the loan is the Colombian Federal Government, which is investment grade rated (S&P BBB-).
Founded in 2007, Kawa is an independent asset manager focused on alternative investments. The firm deploys capital with a focus on long-term growth and capital preservation.
“We are pleased to announce this investment in ExcelCredit, a company that is truly filling a market need given the lack of traditional forms of consumer credit available in Colombia,” said Daniel Ades, founder and managing partner of Kawa. “We look forward to helping them bring their valuable offerings to a broader market.”
“We are excited to receive this funding from Kawa, as it will allow us to diversify our capital base and access US capital markets,” says Moris Mishaan, head of business development of ExcelCredit.