May 16, 2019 |
Guatemalan clothing manufacturer Startex is looking for other sources of financing to boost production after Banco Industrial denied a $750,000 loan to buy machinery, LatinFinance has heard.
"They declined the loan, even though it was guaranteed by the South Korean government," said a source close to the company. "Startex had to use its own money buy the machines, which cost $50,000 each."
The South Korean government had offered to back loans used to import apparel manufacturing equipment, but
Guatemalan clothing manufacturer is in talks for a possible revolver from an unnamed US lender, source says