AR Chem Tex Industries LLC, of Edinburg, Texas, wanted to expand into new foreign markets but didn't have the ability to finance its product. The company's president, Art Lopez, attended a Global Access forum in Weslaco, Texas, where he learned about EXIM Bank's financing products for small business. After being approved for both an EXIM Bank working capital lender loan guarantee to cover a $500,000 loan from Frost National Bank's loan and a $500,000 small business multi-buyer insurance policy, the company increased sales to Mexico and Venezuela and also expanded into Argentina and Colombia. AR Chem Tex exports chemical treatment products and equipment such as soap sticks for gas wells. Additionally, the company hired one new employee and plans to hire more as foreign sales increase.
EXIM Bank Financing Expands Texas Small Business into New Markets
AR Chem Tex Industries LLC
Mexico and Venezuela
EXIM Bank Product:
Export Insurance and Working Capital Loan
Art Lopez, President
"One of the reasons we hadn't expanded into new markets is because of limited capital and difficulty financing our products. Now that we have financing from EXIM Bank, we are selling in new markets in Latin America."