IMPACT REPORTING

Impact Overview
Percentage of TriLinc Borrowers that:
Comply with local environmental, labor, health, safety and business laws, standards and regulations 100%
Demonstrate their positive impact on the community through community service and/or community donations 88%
Commit to working towards implementing international environmental and health and safety best practices 100%
Implement environmentally sustainable practices, including energy savings, waste reduction and/or water conservation 84%
Top 5 Borrower Impact Objectives:
1 Job Creation
2 Agricultural Productivity & Food Security
3 Capacity-Building
4 Wage Increase
5 Health Improvement
Top 5 Environmental and Social Practices:
1 Charitable Donations
2 Maternity / Paternity Leave
3 Fair Hiring and Recruiting
4 Energy Savings
5 Waste Reduction
Hospitality Service Provider - Cabo Verde1
Investment Type: Senior Secured Term Loan
Structure: Term Loan Due 8/21/2021
Loan Commitment Amount2: $17,000,000
Interest Rate3: 13.50%
Sector: Hotels & Motels
Collateral Coverage Ratio4: ≥ 1.25X
Primary Impact Objective: Job Creation, Capacity Building

The tourism industry is a powerful driver of economic development as it creates jobs and stimulates investment in infrastructure and growth in local industries, including agriculture, aquaculture, textiles, and retail consumption. This reciprocal relationship between tourism and economic development is exemplified in Sub-Saharan Africa. In 2015, the industry accounted for 6.5% of the region’s direct and indirect employment with 16.5 million jobs, contributed to 6.9% of the region’s GDP, and represented 5.7%, or $18.3 billion, of capital investment in the region.5

The tourism industry is also a critical agent in improving the skills and capacities of the local labor force through training employees in international best practices in hospitality management and operations. This knowledge and skills transfer impact is evermore present in developing economies as the tourism industry contributes to bridging the divide between local human resource and international best practices, attracting foreign investment, and improving local tourism’s competitive position in the global marketplace. Understanding the importance that this industry has in promoting economic development and strengthening the capacities of the local labor market, TriLinc extended a $17,000,000 senior secured five-and-a-half year term loan facility to a hospitality service provider engaged in the design, development, operation, and management of two new hotel properties located in the Cabo Verde archipelago.

The borrower has operated in the country since 2007 and has grown into one of the most recognized hospitality property developers in the country. As a part of these new hotel developments, the borrower seeks to create up to 1,000 new jobs among the local labor force. Interwoven into its job creation impact, the borrower offers all of its employees job-specific capacity building programs that seek to strengthen local capabilities through trainings in health and safety, first aid, hospitality/customer relations, management skills, English language, and general management practices. The borrower also enrolls general managers employed at its facilities in management courses offered by a U.S. Ivy League university. Consistent with its focus on promoting economic development through empowering local capacities, the borrower created a foundation in 2012 to focus primarily on improving the quality of life for local youth through educational and good health initiatives, including the construction of new school buildings and provision school kitchen equipment and supplies.

The impact data above in the Impact Overview section reflects data collected as of March 31, 2016 and is subject to change/rounding.

Past performance is no guarantee of future results. This borrower and the information presented represents an actual transaction in TriLinc Global Impact Fund.
1) There is no assurance that our investment in the borrower or this market will be successful or will have the desired impact.
2) The current loan commitment amount represents the current amount that is available to the borrower under the agreement. This amount may change over time.
3) Note, this is not a measure of TriLinc’s investment performance nor is it necessarily indicative of distributions that TriLinc may provide to investors.
4) The collateral coverage ratio is the amount of collateral the borrower must maintain in relation to the total amount outstanding on the facility.
5) World Travel & Tourism Council. Travel & Tourism: Economic Impact 2016 – Sub-Saharan Africa. 2016.
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