Small Business Adds Many Jobs with Ex-Im Bank Working Capital Financing

Photo courtesy of Wallquest Inc.

Wallquest Inc. – a small-business designer, manufacturer and distributor of consumer and commercial decorative wall coverings – has been exporting to foreign distributors for 30 years. Wallquest exports to approximately 90 foreign buyers in over 50 countries, including China, Saudi Arabia, Turkey, Brazil, Russia and the United Arab Emirates.

The company has been using Ex-Im's working capital loan guarantee since 2008, working with PNC Bank as the guaranteed lender of a $3 million loan. With this financing, Wallquest has seen its exports soar 76 percent to over $17 million in 2010 alone. Since 2008, the family-owned company's work force has grown from 80 to more than 150 people at its facilities in Pennsylvania, New York and New Jersey.

"Almost all of our growth since 2008 has been in the export market. Ex-Im Bank’s help has been immense. Ex-Im takes the concern out of financing exports. It has been a seamless process for us because of the relationship between Ex-Im Bank and PNC. They have really helped us expand our global business," said Wallquest Vice President Jack Collins, son of owner John Collins.