Ignacio Morello, Chief Corporate Banking Officer at the bank, outlines the strategy behind the +Mining unit, which is focused on meeting the financing needs of Argentina’s mining ecosystem. Instruments such as leasing, invoice-based lending, and capital markets funding are helping providers invest—even when they lack a strong financial track record. “We’ve managed to disburse funds to mining companies in less than 24 hours,” he says.
By Panorama Minero
What motivated the creation of a dedicated unit like “+Mining” within the bank?
At Supervielle, we identified a strategic opportunity to comprehensively support the entire mining value chain—an industry with enormous growth potential in Argentina. We want to become a long-term financial partner not only for operators but also for suppliers.
Unlike traditional credit evaluation models, we believe mining requires a more dynamic approach: it’s not enough to look at historical balance sheets; we also factor in contracts, purchase orders, and production projections. That’s the logic we apply.
We're also strengthening our geographic presence. We have branches in mining provinces such as San Juan and Mendoza, and a digital network that allows us to operate remotely. Thanks to this, we’ve already financed more than 80 suppliers in the sector, disbursing over US$10 million.
What specific solutions do you offer to mining suppliers?
The +Mining unit is made up of commercial executives and credit analysts specialized in the mining sector, which enables us to respond quickly and precisely.
Key tools we offer include:
● Tailored credit assessments: We evaluate contracts and purchase orders the supplier has with mining companies, as well as their experience in that role. Historical revenue is not a barrier—we rate clients based on future cash flow potential.
● Working capital loans: Generally structured as invoice discounting. These are provided against invoices confirmed by the mining company—even by email, with no formal notice required.
● Leasing: This is a vital tool, as many suppliers need to make large capital investments that aren’t yet reflected in their balance sheets. We finance both local and imported equipment, offering tax benefits and financing terms aligned with business cycles.
● Capital markets access: We are among the leading banks issuing corporate bonds under the simplified regime for SMEs. It’s a very effective way to expand financing options.
● Bank-backed promissory notes for capital markets.
● Foreign trade services: In 2023, we were named “Best Bank for Trade Finance in Argentina” by Euromoney.
● Interest-bearing accounts: Available for SMEs and individuals who receive their salaries through the bank. Balances earn daily interest—even on holidays.
What role does leasing play in transactions involving small or mid-sized suppliers?
Leasing is ideal in situations where a supplier’s balance sheet doesn’t yet reflect its future earning potential. The lender can rely on the asset being financed, which allows for larger amounts and longer terms.
There are also clear tax advantages: both the purchase price and VAT can be financed. One important point is that leasing isn’t limited to vehicles—we finance a wide range of productive assets.
You mentioned invoice-based lending. How does that work in the mining sector?
As in the Oil & Gas industry, historical billing doesn’t always reflect what’s ahead. When a company starts working with a mining firm, its revenue tends to increase significantly. That’s why we use tools that account for this shift. Invoice discounting is the most direct way to finance based on projected cash flows.
How important is response time in this type of financing?
It’s critical. Often, the supplier needs to act fast to meet client demands. In a recent case, we were able to fund a mining company in less than 24 hours after the proposal was submitted. That kind of speed builds trust and strengthens long-term relationships.
Do you see greater awareness in the Argentine financial sector of mining’s potential?
Absolutely. In today’s context, all banks are actively seeking opportunities in the private sector. Mining and Oil & Gas are among the most promising areas—alongside agriculture, which has long been a core pillar.
Just consider that Chile exports more than ten times what Argentina does in mining, despite sharing the same mountain range. That gives you an idea of the massive untapped potential. And with it comes job creation, investment, and broader economic development for the provinces that embrace this industry.
