Sponsored by Energy Trust

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

Three problems with Obama's immigration order

News
Wednesday, November 26, 2014

BY NISHANT BHAJARIA | OP-ED CONTRIBUTOR112614-immigration-thumb

By now, anyone who knows about it has a position on President Obama’s executive order on immigration. The executive order is the outcome of failed attempts at getting a bill through the normal legislative process. Both Obama and his predecessor came close, but not close enough since the process broke down multiple times.


Read more...

Dan and Louis Oyster Bar opens up to a changing neighborhood

The Latest
Thursday, December 11, 2014
121114-oystervidBy MEGHAN NOLT

VIDEO: Revamping a Classic — an iconic eatery stays relevant in a changing marketplace.


Read more...

Kill the Meeting

November/December 2014
Wednesday, October 22, 2014
BY AMY MILSHTEIN

Meetings get a bad rap. A few local companies make them count.


Read more...

What I'm Reading

November/December 2014
Wednesday, October 22, 2014

Peter Lizotte at ACME Business Solutions and Roger Busse at Pacific Continental Bank share their favorite reads.


Read more...

Streetfight

News
Sunday, December 07, 2014
BY LINDA BAKER

On Friday, Uber switched on an app — and with one push of the button torpedoed Portland’s famed public process.


Read more...

Growing a mobility cluster

News
Friday, October 31, 2014
0414 bikes bd2f6052BY LINDA BAKER | OB EDITOR

Why are there so few transportation startups in Portland?  The city’s leadership in bike, transit and pedestrian transportation has been well-documented.  But that was then — when government and nonprofits paved the way for a new, less auto centric way of life.


Read more...

The clean fuels opportunity

News
Monday, November 10, 2014
111014-dirtyfuel-thumbBY KIM MOORE | OB RESEARCH EDITOR

A market for low-carbon transportation fuels has a chance to flourish in Oregon if regulators adopt the second phase of the state’s Clean Fuels Program.


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