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Nicaragua's CrediFactor secures credit line worth up to $2M

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Nicaragua's CrediFactor secures credit line worth up to $2M

Nicaragua's CrediFactor SA on Aug. 29 secured a line of credit worth up to $2.0 million from Advance Global Capital, according to a security filing.

The loan, which will not mature for at least a year, has an 8% current interest rate and a 25% default interest rate over the balance of effective debt, CrediFactor said.

The Managua-based company plans to use the funds for working capital.