Facebook pixel

EXIM's Fast Track Product Worked Quickly to Close Tunnel Equipment Deals

Exporter/Customer: 
The Robbins Company
Export Destinations: 
Mexico City and India
EXIM Bank Product: 
Working Capital Guaranteed Loans
Export Sales ($): 
72 million
Jobs Supported: 
100 per project

Image

The Robbins Company of Solon, Ohio, which designs and services tunnel boring, hydroelectric, sewer rehabilitation and irrigation machinery, has used EXIM's support for two major sales. The Bank guaranteed a $47 million working capital facility to support Robbins equipment exports for the drilling of 39 miles of sewer tunnels in Mexico City. Prior, this 250-employee manufacturer also benefited from a $25 million EXIM-backed loan facility from Wells Fargo HSBC Trade Bank to export its machines to India for a project supplying potable water to 516 villages.

Under EXIM's Fast Track application processing system, experienced lenders can provide small and medium-sized U.S. exporters with expedited EXIM-guaranteed working capital loans -- between $10 million and $25 million -- with a total aggregate limit of $300 million per lender.

"EXIM Bank's working capital guarantees enabled us obtain large loans in minimal time to meet major contracts in India and Mexico,"
James Virost, CFO