he Export-Import Bank of the United States (Ex-Im Bank) announced today that it has pre-approved 11 Indonesian banks to receive expedited financing under a $1 billion bank facility to support U.S. exports to Indonesia.
The 11 Indonesian banks are Indonesia Eximbank, Bank Mandiri, Bank Negara Indonesia, Bank Rakyat Indonesia, Bank Central Asia, Bank Danamon, Panin Bank, Bank CIMB-Niaga, Bank OCBC Indonesia, Bank International Indonesia and Bank UOB Buana.
Ex-Im Bank Chairman and President Fred P. Hochberg announced the new bank facility today at a meeting with Indonesia's Coordinating Ministry in Jakarta.
"With its diverse and growing economy, Indonesia offers great opportunities for U.S. exporters in many sectors. This bank facility will enable Indonesian companies to access Ex-Im Bank-backed financing from their local banks and help Ex-Im Bank approve these transactions more quickly," Hochberg said.
"We anticipate that this bank facility will be very attractive to borrowers because of the currently low rates and the fixed-interest rate options," he added.
The bank facility will support U.S. exports to Indonesia on short, medium and long repayment terms. Both public-sector and private-sector borrowers are eligible.
Applications for Ex-Im Bank financing involving the 11 Indonesian banks can be approved by Ex-Im Bank's board of directors and senior officials through an expedited process because each bank has been pre-approved for credit up to an established limit per bank. Total financing under the facility could reach more than $1 billion.
Ex-Im Bank, an independent, self-sustaining federal-government agency, exists to fill gaps in export financing, strengthen U.S. export competitiveness, and create and maintain U.S. jobs. The Bank provides a variety of financing mechanisms, including working capital guarantees to help small and medium-sized U.S. businesses, export-credit insurance to protect against nonpayment by foreign buyers, and loan guarantees and direct loans to assist foreign buyers of U.S. goods and services.
In fiscal 2009, overall Ex-Im Bank financing totaled $21 billion, and authorizations supporting small-business exports reached a historic high of $4.4 billion, nearly 21 percent of total authorizations.
Ex-Im Bank authorized $279.5 million for U.S. exports to Indonesia in fiscal 2009, including financing for Sikorsky helicopters to P.T. Travira Air.
In fiscal 2009 and 2010, Ex-Im Bank has authorized almost $1 billion in financing to support the export of up to 30 Boeing 737-8000ER aircraft with CFM International aircraft engines to Lion Air, a private-sector airline in Indonesia.
In the first seven months of 2010, the Bank authorized nearly $15.2 billion in loans, guarantees and insurance – more than twice the amount authorized in the same period in fiscal 2009. For more information, see Ex-Im Bank's Web site at www.exim.gov.
SOURCE Export-Import Bank of the United States
US EXPORT COUNCIL PROVIDES ASSISTANCE TO US COMPANIES SEEKING ACCESS TO HIGH GROWTH MARKETS OVERSEAS. http://usexportcouncil.com/
Showing posts with label export import bank. Show all posts
Showing posts with label export import bank. Show all posts
Friday, June 18, 2010
Wednesday, October 15, 2008
SBA Offers New Online Training for Exporters
A new online course will help small businesses explore exporting opportunities in international markets. Global Enterprise: A Primer on Exporting is a free, self-paced course that provides practical guidance on exploring international markets.
The new course is available from the Small Business Administration training Web site at www.sba.gov/training. To access the course, click on "Free Online Courses," and then select the first course listed under International Trade.
The course is a comprehensive training module using script and audio to provide fundamental information about selling in global markets. It illustrates how to identify international markets, develop an export strategy, make and receive international payments, and finance trade operations, plus guidance on determining a firm's readiness and suitability for exporting. The Exporting Primer includes more than 45 direct links to many key international resources.
Exporting can be an avenue to tap into the increasing global marketplace. There are some 236,000 small business exporters, representing 97% of all U.S. exporters,and they generate some 30% of export sales. In 2007, U.S. exports of goods and services amounted to $1.6 trillion, with small businesses accounting for nearly $500 billion of those exports.
"The advantages to exporting can mean big opportunity for entrepreneurs that want to capitalize on emerging markets worldwide," said SBA Acting Administrator Sandy K. Baruah. "The SBA recognizes the value of reaching out to small businesses early in the trade game by using technology that is readily accessible and easy to use."
In addition, the SBA's partnership with the U.S. Department of Commerce and the Export-Import Bank offers federal export programs and services through the U.S. Export Assistance Centers. Small businesses can receive a full range of business export assistance under one roof to makes it easier to get the help needed to compete and succeed in the global marketplace.
"More now than ever, small business exports play a major role in our economy," said Luz Hopewell, SBA Director of International Trade. "Through the new online exporting course, the SBA will be able to help more small businesses access new markets, sell more goods overseas, and create new jobs at home."
Course participants completing the 30-minute online training programs can earn a certificate of completion from the SBA, with their name, date and course title. The Export Primer course is one of nearly 30 online tutorials offered by the SBA on its virtual campus, the Small Business Training Network (www.sba.gov/training). SBTN is part of the SBA's Office of Entrepreneurship Education (OEE), which combines the agency's online education programs, youth outreach, and outreach to underserved markets under a single umbrella.
SOURCE: U.S. Small Business Administration (SBA)
WASHINGTON, Oct 14, 2008
U.S. Small Business Administration (SBA) Cecelia Taylor, 202-401-3059 http://www.sba.gov/news
US EXPORT COUNCIL PROVIDES ASSISTANCE TO US COMPANIES SEEKING ACCESS TO HIGH GROWTH MARKETS OVERSEAS. http://usexportcouncil.com/
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