Showing posts with label LOAN. Show all posts
Showing posts with label LOAN. Show all posts

Monday, April 14, 2014

EX-IM BANK EXPANDS PARTNERSHIP WITH MINORITY BUSINESS DEVELOPMENT AGENCY

FROM:  EXPORT-IMPORT BANK 
Ex-Im Bank and MBDA Announce Expansion of its Partnership

Washington, D.C. – The Minority Business Development Agency (MBDA) and the Export-Import Bank of the United States (Ex-Im Bank) have announced an expansion of their partnership to help small minority- and women-owned export businesses obtain loans so they can have greater access to foreign markets.

MBDA Business Centers in Miami, Los Angeles, Detroit, and Phoenix can now process loan applications for export financing as Originators for the Ex-Im Bank’s Global Credit Express program, designed to help small businesses that do not enjoy access to conventional financing markets.

"Ex-Im Bank welcomes the MBDA Business Centers in Miami, Los Angeles, Detroit, and Phoenix to the growing list of Originators for the Global Credit Express (GCE) Direct Loan Program," said Ex-Im Bank Chairman and President Fred P. Hochberg. "The success of the GCE Program is based on knowledgeable referral sources like our MBDA partners, who can help us identify qualified small-business exporters that need pre-shipment working capital to expand their export sales. In FY 2013 alone, Ex-Im Bank authorized $815.6 million to support 761 export transactions by small- and medium-sized minority- and/or women-owned businesses in the U.S. In other words, approximately one in five Ex-Im transactions directly benefited minority-owned or woman-owned small businesses. This partnership will help more companies reach the other 95 percent of the world's customers that live overseas and support jobs here at home."

Through this new partnership, small- and medium-sized export businesses may be eligible for a 6- or 12-month revolving line of credit of up to $500,000 by way of Ex-Im Bank’s Global Credit Express program.

"The expansion of this partnership effort will build upon the access to capital resources available to help MBDA minority-business enterprise firms expand their global footprint," said Joann Hill, Chief of MBDA’s Office of Business Development.

Thursday, March 28, 2013

EXPORT-IMPORT BANK BACKS $9 MILLION LOAN FOR EXPORT OF SOLAR PANELS TO INDIA

FROM: U.S. EXPORT-IMPORT BANK
California Company Miasolé Exports Thin-Film Solar Panels for Solar-Energy Project in India, Backed by $9 Million Ex-Im Bank Loan
Company Plans To Add 200 U.S. Jobs Due to Growing Export Business

Washington, D.C. – Miasolé, a solar-energy company in Santa Clara, Calif., has exported thin-film solar panels to a solar photovoltaic (PV) project in Rajasthan, India, with the support of a $9 million direct loan from the Export-Import Bank of the United States (Ex-Im Bank).

The Indian borrower, Sai Maithili Power Company Private Ltd., a single-purpose solar company formed by KSK Energy Ventures, used Miasolé’s high-efficiency, thin-film PV solar panels in the construction of an 11.6-megawatt (DC) solar PV project in Rajasthan. The recently commissioned project was built in support of India’s Jawaharlal Nehru National Solar Mission.

"Ex-Im Bank exists to help companies create and maintain American jobs through exports. This is Ex-Im’s second financing of Miasolé’s exports to India, a growing market for renewable-energy goods and services. Through this support, Ex-Im Bank is assisting the company in expanding its manufacturing base and creating many new jobs," said Ex-Im Bank Chairman and President Fred P. Hochberg.

In FY 2010, Ex-Im Bank provided a $3.7 million loan to finance exports of Miasolé’s thin-film PV solar panels to a solar project in Gujarat, India.

"Ex-Im Bank’s support of Miasolé’s California-made solar modules for projects in India lowers the cost of capital and will enable Miasolé to expand U.S. exports and create jobs in California," said Miasolé CEO John Carrington. "We look forward to continuing to work with Ex-Im Bank in 2013 as Miasolé expands its global footprint and business model to invest in projects, acquire project pipeline and partner with leading developers and engineering, procurement and construction (EPC) companies in sustainable markets such as India."

Miasolé is a pioneer in the development of copper indium gallium selenide (CIGS) thin-film PV solar panels, which are among the highest-efficiency and lowest-cost solar panels. Due to its expanding export-related business, Miasolé is doubling its workforce to 400 employees in California in 2013.


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