Latin America Agribusiness Development (LAAD) is a financial institution that provides loans and advisory services to medium-sized agricultural enterprises. LAAD has profitably delivered financing to SMEs in the agribusiness sector in Latin America for more than 43 years. The institution had total assets of USD 380 million as of end 2012.
Agribusiness SMEs is typically considered to be a difficult market, often underserved by established local financial institutions. LAAD provides loans of less than USDM 3 to small and medium-sized farmers to help modernize and expand their operations. In 2012, LAAD help create over 5 700 new jobs in the region in 196 projects with an average loan size of USDK 750.
The largest owners are Bank of America, Borden, Cargill, Deere & Co, DEG, Dole Food Company, Gerber, Goodyear Tire and Rubber, JP Morgan, Monsanto, Rabobank and Unilever. Norfund has provided three loans to LAAD. With its investment, Norfund wishes to contribute to financing of infrastructure projects in developing countries in Latin America.