Regional private credit platform

The capital layer for Latin American credit originators.

Corvar Capital finances established originators against eligible portfolios, ring-fences collateral and collections, and gives capital providers one institutional reporting standard across countries.

Get in touch How it works

The opportunity

Good credit books. Fragmented funding.

Across the region, small and mid-sized businesses remain underserved by banks, and specialized originators have stepped in with real, cash-flowing portfolios. What they lack is institutional funding on consistent terms. What funders lack is a way to see, control and compare those portfolios across countries. Corvar sits between the two.

  • i

    A persistent credit gap

    Demand for working capital is steady while traditional lenders tighten. Originators who know their borrowers fill the gap.

  • ii

    Originators need scalable funding

    Local balance sheets and bank lines limit growth. Structured, multi-funder facilities let proven books grow.

  • iii

    Funders need one standard

    Global capital requires verified collateral, controlled cash and comparable reporting — country by country, in one format.

How Corvar works

We finance originators. We don’t compete with them.

Corvar decides funding, eligibility and allocation at originator and portfolio level. Originators keep the borrower relationship and make borrower-level decisions. Capital providers get segregated assets and direct, transparent exposure.

Capital

Capital providers

  • Institutional private credit
  • Digital-asset lenders
  • Tokenized debt investors
⇄
Control

Corvar Capital

  • Originator & portfolio underwriting
  • Capital allocation & treasury
  • Borrowing base & collateral control
  • Reconciliation & reporting
⇄
Origination

Local originators

  • Origination & scoring
  • Servicing & collections
  • Agreed eligibility criteria

Assets are segregated by transaction, country or funder. Funders lend into dedicated country vehicles that hold only the financed receivables; the holding company does not borrow or on-lend on its own balance sheet.

The platform

Capital, credit control and data — in one layer.

An operating framework that lets established originators access institutional funding, and lets capital providers deploy into Latin American credit with the controls they expect.

i.

Originator underwriting

Each originator and each portfolio is assessed before funding — governance, track record, policies and loan-level performance.

ii.

Portfolio finance

Facilities sized to eligible collateral: SME purchase finance, invoice discounting, factoring, renting and selected seasoned portfolios.

iii.

Capital allocation & treasury

Funding is allocated across originators and countries by eligibility, concentration and performance, with treasury managed centrally.

iv.

Multi-funder structures

Designed from day one for several capital providers at once, each with segregated assets and its own reporting.

v.

Institutional reporting

One reporting standard across countries, reconciled monthly and delivered directly to funders.

vi.

Data layer

Loan-tape access is used to control, assess risk and allocate capital — credit and collateral infrastructure, not a credit bureau.

Controls

Built around the funder’s first question: where is the collateral?

Every structure starts with the lessons of past non-bank credit cycles in the region: collateral that is ring-fenced, cash that is controlled, and numbers that are reconciled to the bank — not to the originator’s report.

i.

Ring-fenced collateral

Financed receivables held in dedicated vehicles, pledged or placed in trust in favor of funders, with a contractual waterfall that pays funders first.

ii.

Borrowing base

Only eligible assets support each draw, with conservative advance rates and originator first-loss retention.

iii.

Controlled collections

Collections flow through controlled accounts at regulated banks, with fiat-only inflows and documented source of funds.

iv.

Independent reconciliation

Eligibility, collections and the borrowing base are reconciled to bank statements and reported to funders every month.

v.

Limits & triggers

Concentration limits by originator and borrower; performance triggers suspend reinvestment and redirect cash to repayment.

vi.

Governance

A board and a credit committee each with an independent member, no lending to related parties, and matters reserved to funders.

Technology

Loan-level visibility. Every day, not every month.

Most private credit in the region still runs on spreadsheets, periodic summaries and figures reported by the borrower. Problems surface late and cannot be checked independently. Corvar is building a credit operating layer that works from the loans themselves: every facility, borrowing base and report is computed from validated loan-level data and reconciled to the bank.

i.

Data ingestion

Loan tapes and payment records are pulled from originator systems through integrations, standard templates and controlled bank accounts.

ii.

Validation

Automated checks for completeness, consistency and eligibility before any data feeds a funding decision.

iii.

Risk analytics

Cohort performance, delinquency and early-warning indicators calculated from the underlying loans — not from originator summaries.

iv.

Facility management

Borrowing base, covenants, waterfalls and draw requests run on the same dataset, so triggers act on facts as they happen.

v.

Funder reporting

One institutional reporting package per funder, across countries, in a consistent format.

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AI & specialist partners

AI accelerates data review, document analysis and monitoring, so a lean team can cover more originators with more depth. Trustees, back-up servicers and independent verification agents are engaged as specialist partners where an outside check adds confidence.

Disciplined growth

Prove it under controls. Then scale.

Corvar grows in stages. Each stage opens only when the previous one has produced a verified operating record — reviewed by a third party and evidenced to funders.

Stage one

Pilot

A focused portfolio with business borrowers only, secured by a registered pledge over the receivables, controlled accounts and monthly reconciled reporting.

Stage two

Scale

Opens only after graduation criteria on tenure, portfolio quality, losses and reporting are met. Adds a regulated non-bank lender and trust-based structures.

Stage three

Platform

A dedicated funding and treasury entity with tranched senior and subordinated funding, serving originators across the region.

Clear boundaries

What Corvar is not.

  • Not a competitor for the originator’s borrowers
  • Not a borrower-level scoring engine
  • Not a credit bureau
  • Not a balance-sheet lender at holding level

Markets

One framework. Local structures.

Each market combines an underserved small-business credit segment with established local originators. Corvar works in every country through its own local structure — under the same eligibility tests, the same controls and the same reporting.

Argentina Colombia Costa Rica Mexico
  • i

    For originators

    Scalable, structured funding for established books in SME lending, invoice discounting, factoring and renting — without giving up the borrower relationship.

  • ii

    For capital providers

    Access to diversified Latin American private credit through segregated, controlled structures with one institutional reporting standard.

  • iii

    For partners

    Banks, trustees, servicers and advisors who share our view that infrastructure — not just capital — is what the region’s credit markets need.

Turning fragmented regional credit into an institutional asset class — originated locally, controlled centrally, funded globally.

Contact

Let’s talk.

We engage with capital providers, established credit originators and the banks, trustees and advisors that work alongside them. If you are building in Latin American private credit, we would like to hear from you.