Showing posts with label FINANCING. Show all posts
Showing posts with label FINANCING. Show all posts

Monday, November 10, 2014

EXPORT-IMPORT BANK SUPPORTED OVER $2 BILLION MINORITY, WOMEN OWNED BUSINESS EXPORTS IN FY 2014

FROM:  U.S. EXPORT-IMPORT BANK, 
Ex-Im Bank Financing Supported over $2 Billion in Minority- and Women-Owned Business Exports in Fiscal Year 2014
Financing support helped one company reach $5 million in sales

Washington, D.C. – Today in Los Angeles, Export-Import Bank Chairman Fred P. Hochberg announced that Ex-Im Bank supported over $2 billion in minority- and women-owned business exports in fiscal year 2014 by providing financing and insurance totaling approximately $750 million over the same time period.

Since 2009, Ex-Im has authorized more loans to help grow minority- and women-owned businesses than it did over the previous two administrations combined.

“Here at Ex-Im, we’re proud of the progress we’ve made to support businesses in California and across the country, equipping them with the tools they need to succeed on the global stage,” said Hochberg. “Because when we do that, we’re building stronger, more successful communities here at home.”

These numbers reflect Ex-Im Bank’s commitment to minority- and women-owned businesses like Valley of the Sun Cosmetics, a small business based in Gardena, Calif., that has relied upon Export-Import Bank financing to expand its export reach and create jobs.

Before purchasing an Ex-Im Bank export credit insurance policy, Valley of the Sun exported only to a few countries, employed three people, and recorded annual sales of less than $500,000. The company now exports to more than 80 countries worldwide, employs over 30 people, and boasts sales of $5 million, 100 percent of which is export-related.

“The increased sales and remarkable job growth enjoyed by California small businesses like Valley of the Sun reflect Ex-Im Bank’s commitment to boosting exports and supporting jobs,” Hochberg added. “Last year alone, Ex-Im Bank supported $4.9 billion in California small-business exports, which accounts for 26 percent of the state’s total exports.”

“Before using Ex-Im Bank, we never had the money or working capital to grow and develop the company as envisioned,” said Jim Ajmal, owner of Valley of the Sun. “Since working with Ex-Im Bank, we have been able to give customers a line of credit and borrow against pending orders, which has helped us expand over the past few years.”

Sunday, November 9, 2014

EXPORT-IMPORT BANK REPORTS PROVIDING MORE THAN $5 BILLION FINANCING FOR SMALL BUSINESS EXPORTS

FROM:  U.S. EXPORT-IMPORT BANK 
Ex-Im Bank Finishes Fiscal Year Strong, Providing over $5 Billion to Finance U.S. Small Business Exports and Supporting over 160,000 American Jobs

Washington, D.C. – The Export-Import Bank today unveiled its total authorizations and the value of the U.S. exports it supported in Fiscal Year 2014, including its strong support for small businesses, which accounted for nearly 90 percent of the Bank’s customers. Last year, Ex-Im Bank’s financing again supported American jobs and boosted U.S. exports by filling private sector financing gaps and leveling the playing field for U.S. businesses as they compete overseas.

“Ex-Im is proud to serve as a backstop, filling in gaps in the private sector and ensuring that the American export economy remains vibrant in a world of market ebbs and flows,” said Chairman Fred P. Hochberg. “This year’s numbers are reflective of a strong economic recovery and of Ex-Im Bank’s continued record of supporting quality American jobs while generating a surplus for the American taxpayer.”

Key FY 2014 Highlights:

In FY 2014, Ex-Im Bank authorized approximately $20.5 billion to support 164,000 U.S. jobs.

Of the 3,746 transactions Ex-Im Bank approved in FY 2014, 3,347, or almost 90 percent, supported American small businesses.

Of the total dollar amount authorized by Ex-Im Bank in FY 2014, small business authorizations accounted for 24.7 percent, or more than $5 billion.

The total value of exports supported by Ex-Im Bank amounted to almost $27.5 billion, $10.7 billion (39 percent) of which accounted for small business export value.

Ex-Im Bank authorized $2 billion, a record-high dollar value, for sub-Saharan African transactions.

Approximately $675 million in deficit-reducing receipts was transferred to the U.S. Treasury's General Fund.

Thursday, June 19, 2014

EXPORT-IMPORT BANK GUARANTEES $15 MILLION LOAN FOR POWER-GENERATION EQUIPMENT EXPORT

FROM:  U.S. EXPORT-IMPORT BANK 
Ex-Im Bank Approves Financing to Export American Power-Generation Equipment
Deal Supports U.S Manufacturing Competitiveness and Supports 100 American Jobs

Washington, D.C. – The Board of the Export-Import Bank of the United States (Ex-Im Bank) has voted to guarantee a $15 million loan extended by Rabobank International of Utrecht, Netherlands, to Energyst B.V. to facilitate the export of Caterpillar power-generation equipment.

According to Bank estimates derived from Departments of Commerce and Labor data and methodology, the credit will support approximately 100 U.S. jobs.

“Ex-Im Bank’s financing will support the export of important power-generation equipment made here in America and for potential use in Africa or Latin America” said Export-Import Bank Chairman and President Fred P. Hochberg. “In the process, the transaction will support approximately 100 U.S. jobs. This deal is a great example of how Ex-Im Bank’s financing helps American exporters close sales overseas and support jobs at home.”

Energyst, a Caterpillar-trademarked equipment rental operator based in Breda, Netherlands, plans to expand its power fleet to enable the company to be competitive in the International Power Projects market in South America and Sub-Saharan Africa, among other regions. The financed equipment is designed for rapid deployment globally and can provide temporary turnkey power.

The transaction could potentially contribute to President Obama’s Power Africa initiative, which aims to increase access to power in sub-Saharan Africa – where more than two-thirds of the population is without electricity. It will help countries develop newly-discovered resources responsibly, build out power generation and transmission, and expand the reach of mini-grid and off-grid solutions.

“Caterpillar applauds Ex-Im Bank for approving the financing request for power generation equipment for Energyst,” said Jim Umpleby, Caterpillar Inc. group president with responsibility for Energy & Transportation. “By backing this project, Ex-Im Bank is bolstering U.S. manufacturing competitiveness, supporting American jobs, promoting exports and helping Caterpillar and our dealers meet increasing global energy demand."

Monday, May 26, 2014

EX-IM BANK 2014 GOAL: SUPPLY $2 BILLION IN FINANCING BUSINESS AIRCRAFT AND HELICOPTERS

FROM:  EXPORT-IMPORT BANK   
Ex-Im Bank Sets Goal of $2 Billion in Financing of U.S.-Manufactured Business Aircraft and Helicopters in 2014 
Bank Expects To Achieve New Goal by Year’s End

Washington, D.C. – Today the Export-Import Bank of the United States (Ex-Im Bank) announced a new goal of $2 billion in financing for U.S.-manufactured business aircraft and helicopters by the end of 2014.

The Bank reached its previously announced goal of $1 billion in support of these exports in December 2013, 10 months ahead of schedule.

In FY 2014 to date, Ex-Im Bank has authorized approximately $740 million for exports of business aircraft and helicopters made in the United States by companies that include Gulfstream Aerospace Corp. based in Savannah, Ga., Beechcraft based Wichita, Kan., and Sikorsky Aircraft Corp., which manufactures nonmilitary helicopters in Coatesville, Pa. Ex-Im Bank’s financing also supports sales and jobs of U.S. small businesses in the supply chains of these manufacturers.

“Ex-Im Bank has exceeded its goal to increase export financing of U.S.-made business aircraft and helicopters to $1 billion by 2014, and we expect to double that amount by the end of the calendar year. The Bank’s support is enabling these manufacturers and their workers to create American jobs and meet the growing global demand for their excellent products, particularly in markets where other sources of buyer financing are not readily available,” said Ex-Im Bank Chairman and President Fred P. Hochberg.

Ex-Im Bank topped its previous goal in December 2013 with the guarantee of a $300 million loan extended by Apple Bank for Savings to Minsheng Financial Leasing Company Ltd. of Tianjin, China, that is financing the purchase of a fleet of eight aircraft manufactured by Gulfstream.

Wednesday, January 8, 2014

EXPORT-IMPORT BANK SAYS U.S. EXPORTS TOTALED $2.3 TRILLION OVER LAST 12 MONTHS

FROM:  EXPORT-IMPORT BANK 
U.S. Exports Reach a Record $195 Billion in November

Ex-Im Bank Continues to Support U.S. Jobs by Financing U.S. Exports

Washington, D.C. – The United States exported a record $194.9 billion in goods and services in November 2013, according to data released today by the Bureau of Economic Analysis (BEA) of the U.S. Commerce Department.

“Once again, American entrepreneurs are proving why exports are so critical to our economic growth.” said Export-Import Bank Chairman and President Fred P. Hochberg. “Today’s numbers showcase the importance of exports to the U.S. economy and how Ex-Im Bank plays a critical role in supporting American businesses overseas. We provide critical financing to increase sales and create jobs.”

November’s figure is considerably larger than the previous high recorded in October, which was revised upward this month to $193.1 billion.

Exports of goods and services over the last 12 months totaled $2.3 trillion, which is 43.7 percent above the level of exports in 2009. Over the last twelve months, exports have been growing at an annualized rate of 9.7 percent when compared to 2009.

During the same time period among the major export markets (i.e., markets with at least $6 billion in annual imports of U.S. goods), the countries with the largest annualized increase in U.S. goods purchases, when compared to 2009, were Panama (27.3 percent), Russia (21.3 percent), Hong Kong (20.1 percent), United Arab Emirates (20.0 percent), Peru (19.9 percent), Chile (18.7 percent), Colombia (18.6 percent), Argentina (16.7 percent), Ecuador (16.6 percent), and Indonesia (15.4 percent).

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