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TriLinc Global Impact Fund, an impact investing fund that provides growth-stage loans and trade finance to established small and medium enterprises (SMEs) in developing economies, announced on Wednesday that it has approved $16.6 million in term loan and trade-finance transactions to companies in South Africa, Zambia, Namibia, and Nigeria.

Impact Investment is defined as investment with the specific objective of achieving a competitive financial return as well as creating positive, measurable impact on communities across the globe. With significantly limited access to affordable capital in developing countries, the approval of the term loan and trade finance transactions met TriLinc’s requirements for underwriting, economic development and societal advancement.

Gloria Nelund, TriLinc’s Chairman and CEO said, “TriLinc’s recent investments in Sub-Saharan Africa seek to support the backbone of economic development throughout the region: locally-owned and operated SMEs. From Nigeria to South Africa, TriLinc has provided timely and flexible financing to local growth-stage enterprises that seek to enhance their competitive positioning in both domestic and international markets while creating lasting economic and social value in the communities where they operate.”

Between July 2 and July 31, 2015, TriLinc funded four separate transactions totaling $499,494 as part of an existing $2.5 million revolving trade finance facility at a fixed interest rate of 15% to a South African textile distributor. All transactions are set to mature between October 1 and October 27, 2015 and are secured by specific inventory being imported into South Africa from Asia. The borrower anticipates that TriLinc financing will support employment generation.

On July 7, 2015, TriLinc funded $2.5 million as part of an existing $10 million trade finance facility at an interest rate of 12.50% to a Zambian farm supplies distributor engaged in the warehousing and trading of key agricultural commodities, including fertilizer, maize, soya beans, ground nuts and seed. The transaction, set to mature on October 7, 2015, is secured by specific inventory. The borrower anticipates that TriLinc financing will support job creation and indirectly help local farmers improve agricultural productivity and food security.

In Namibia, TriLinc funded $1 million on July 16, 2015, as part of an existing $2 million purchase and repurchase trade finance facility at a fixed interest rate of 12% to one of the country’s consumer goods importer and distributor. The transaction, set to mature on November 13, 2015, is secured by rice and sugar inventory. The borrower anticipates that TriLinc financing will support job creation and in a region noted for its high unemployment.

TriLinc funded $12.6 million on July 23, 2015, as part of a new $16 million senior secured five-year term loan commitment to a locally-owned Nigerian marine logistics provider. The $12.6 million funding will accrue interest at a variable rate of one month Libor +10.5% plus 5.13% in deferred fixed interest. The loan has an expected maturity date of 60 months following its utilization date, which is currently scheduled for August 31, 2015. It is anticipated that TriLinc financing will enable the company to pursue its long-term growth objectives while supporting employee capacity-building initiatives and employment generation.