Home Back Issues February 2009 Ex-Im Bank helps traded sector

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

November/December Preview: Revenge Forestry

News
Tuesday, October 14, 2014
BY JONATHAN FROCHTZWAJG

Seneca AW46A flare-up in the Elliott Forest raises questions about détente in Oregon’s timber wars.


Read more...

Podcast: Testing for Emotional Intelligence with John Hersey

Contributed Blogs
Friday, September 19, 2014
ivbU3sIXBY TOM COX | OB BLOGGER

How can you tell if you, a peer, a subordinate or a job candidate has the emotional intelligence needed to do well?


Read more...

The Diaspora

October 2014
Thursday, September 25, 2014
BY LEE VAN DER VOO

Former newspaper reporters move into brand journalism.


Read more...

October surprise

News
Sunday, October 12, 2014
roundup-logo-thumb-14BY LINDA BAKER

Cylvia Hayes, tabloid vs. watchdog journalism and the looming threat of a Cascadia earthquake.


Read more...

True Blood

October 2014
Thursday, September 25, 2014
BY JOE ROJAS-BURKE

Antibiotics really aren’t magic bullets.


Read more...

The Alchemist

September 2014
Tuesday, August 26, 2014
BY LINDA BAKER

David Howitt explains why Portland consumer brands like Stumptown and Voodoo Doughnuts are taking the world by storm.


Read more...

Two Sides of the Coin

Contributed Blogs
Friday, September 26, 2014
0926 iphone6-thumbBY JASON NORRIS | GUEST BLOGGER

This post focuses on the recent release of the new Apple iPhone as well as Alibaba's IPO, the largest U.S. IPO in history.


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