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's financing products for small business.
After EXIM pproved a 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.