Sponsored by Lane Powell

Ex-Im Bank helps traded sector

| Print |  Email
Archives - February 2009
Sunday, February 01, 2009

STATEWIDE — You know the pendulum has swung when the government is backing loans that banks won’t touch.

Once upon a time, exporters could demand cash in advance or a letter of credit from foreign purchasers. Then came the credit crunch, spreading virally and globally. One source of solutions to the credit woes of international companies is the U.S. Export Import Bank, which has established a formal relationship with the Oregon Economic and Community Development Department to offer financing tools to the state’s traded sector.

As the official export credit agency of the federal government, Ex-Im has worked with Oregon companies for years, providing financing for bike trailer manufacturer Burley Design of Eugene, seed exporter Turf Merchants of Tangent, Freightliner and many others. The roster is expected to expand significantly now that banks are under pressure to improve their cash positions and reluctant to lend without compelling assurance they will be paid back.

A stamp of approval from Ex-Im Bank is as solid a guarantee as an exporter can get. “We’re backed by the balance sheet of the U.S. government,” says Jim Lucchesi, a San Francisco-based senior development director with the 350-employee federal agency. Lucchesi is working with OECDD to help exporters limit their risks and enhance their ability to borrow with loan guarantees, direct loans and several varieties of credit insurance.

“Credit insurance is part of the standard business model in Europe,” Lucchesi says. “The awareness about it is growing as more businesses look overseas for new markets.”

One company that has benefited from Ex-Im credit insurance is privately held Tualatin-based Wade Rain, which exports irrigation systems to Latin America. “It’s a program I would recommend to anyone who is exporting,” says Wade Rain president Ed Newbegin. “It makes the bank comfortable to have an insured receivable.”

Anything that gives the bank comfort is worth considering these days.                  

BEN JACKLET


Have an opinion? E-mail This e-mail address is being protected from spambots. You need JavaScript enabled to view it

 

 

More Articles

Credit Unions Perspective

June 2015
Tuesday, May 26, 2015
BY KIM MOORE

A conversation with Gene Pelham, CEO of Rogue Credit Union.


Read more...

Department of Self-Promotion

Linda Baker
Wednesday, June 17, 2015

061715-awards1Oregon Business wins journalism awards.


Read more...

Oregon needs a Grand Bargain energy plan

Linda Baker
Monday, June 22, 2015
0622-gastaxblogthumbBY LINDA BAKER

The Clean Fuels/gas tax trade off will go down in history as another disjointed, on-again off-again approach to city and state lawmaking.


Read more...

6 key things to know about summer baseball in Oregon

The Latest
Friday, June 05, 2015
basedthumbBY JACOB PALMER | DIGITAL NEWS EDITOR

As temperatures in Oregon creep into the 90s this weekend, Oregonians' thoughts are turning to — summer baseball.


Read more...

The 5 highest revenue-generating parks in Oregon

The Latest
Thursday, June 11, 2015
parksthumbBY JACOB PALMER | DIGITAL NEWS EDITOR

In 2014, total revenue for camping and day use in Oregon State Parks was a little more than $17 million. That figure may even higher this year "because we've had exceptionally nice weather," Hughes says.


Read more...

Eco Zoned

June 2015
Friday, May 22, 2015
BY HANNAH WALLACE

Travelers have always come to Oregon for its natural beauty. But will the increasing popularity of agritourism, European-style hiking getaways and forest resorts relax Oregon's notoriously strict land-use laws?


Read more...

Fixing Oregon’s broken roads

The Latest
Tuesday, June 09, 2015
RUCCostComparison rev4-30BY KIM MOORE | RESEARCH EDITOR

The technology at the center of Oregon’s road usage fee reform.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS