Fincas II

repaid

Fincas Patagónicas is a family-owned business that is classed as a small and medium-size enterprise (SME) in Argentina. The company owns Bodega Tapiz (brand name), a winery specializing in fine wine that is chiefly for export. It began operating in 2003 after acquiring the assets of an international company.In 2008 the IIC provided Fincas Patagónicas with a loan used to finance the following: (i) purchase stainless steel tanks and carry out minor construction work to expand the winery’s installed capacity to up to 2 million liters per year, i.e., a 100% increase; (ii) plant 80 hectares in winegrapes; and (iii) purchase oak barrels. The positive outcome of the first loan led Fincas Patagónicas to request a second loan to be used in financing the increase in accounts receivables and inventory derived from an increase in production and sales of fine wine.With this project, the IIC will (i) support the growth of an export-oriented Argentinean SME operating in a growing, strategic sector that is a significant generator of foreign exchange; and (ii) support the development of an SME by enabling it to strengthen its competitive position in a sector dominated by large corporations with international backing.