Su Casita Secures IFC Revolving Credit

Mexico’s largest home finance company, Hipotecaria Su Casita, has secured a revolving credit line from the International Finance Corporation (IFC), the private-sector arm of the World Bank. The local currency credit line, worth $72 million, is part of a larger financing program with the IFC worth $248 million. The credit line will help fund Su Casita’s expansion plans. The company’s main function is to extend mortgage loans to low-income individuals and to provide construction financing to developers of low-income housing. However, the company is also planning to expand into the middle-income section of the Mexican housing market.