Servicios Financieros Progreso S.A., a Chilean private financial company specializing in financial leasing and factoring solutions, has obtained a 10 million dollars loan from IDB Invest for a 12-month term, renewable for up to three consecutive periods. The objective is to support the financing of micro, small and medium-sized enterprises (MiPyMEs) in Chile through factoring operations (a financial instrument that provides liquidity with a lower risk and borrowing costs).

IDB Invest will provide advisory services on climate financing in order to support Progreso on  the development of a sustainable corporate strategy to promote the implementation of innovative financial products. In addition, an analysis of Progreso’s climate portfolio will be executed, with the updated taxonomy, allowing to establish a baseline from which to monitor development and its impact.