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Small Georgia Company is Flying High with EXIM

Exporter/Customer: 
Aventure Aviation
Export Destinations: 
Kenya, Maldives, Pakistan
EXIM Bank Product: 
Export Credit Insurance

Zaheer Faruqi

This fast-growing, aftermarket aircraft parts supplier seated in the suburbs of Atlanta, Ga., started selling aircraft parts to commercial airlines and military air forces in 2002. The small company of only 35 is now considered one of the best spare parts providers in the world.

Aventure Aviation, nicknamed the ‘AutoZone for airplane supplies’ by its founder and president Zaheer Faruqi, humbly founded in the basement of his home in Peachtree City, Atlanta. The concept of providing a "customer driven first rate" aviation parts supplier service was the goal for this business venture. The idea originated from Zaheer’s previous work experience with a local part supplier company when he started noticing that similar companies lacked customer service and were solely profit-oriented. Zaheer visualized something greater and wanted to provide a service tailored to its individual foreign buyers.

EXPORT CHALLENGE

In the beginning stages, Aventure ended up with a foreign customer that went out of business before paying its bill, leaving the company nearly $90,000 in debt and unsure about selling internationally.

EXIM SOLUTION

This loss led to Zaheer turning to EXIM for its export trade credit insurance. Not only does EXIM’s insurance protect Aventure against the risk of nonpayment, it also allows the company to extend credit terms to its customers, giving them up to 30, 60, or even 90 days to pay. This feature resulted into an attractive selling point to gain new customers and a great way to build customer loyalty.

RESULTS

With EXIM’s support and a unique customer service strategy, Aventure excelled and became a model for success. The company expanded its reach from the U.S. to markets in Kenya, the Maldives, and Pakistan. Today over 80 percent of Aventure’s revenues are generated by export sales and the company has plans to boost hiring by 50 percent and substantially expand its facilities. It has about 850 customers in over 30 countries. 

Aventure was the winner of the Metro Atlanta Chamber’s Global Impact Award in the Global Growth category beating the Equifax and InComm companies in 2016. The company also won the Metro Export Plan’s Metro Export Challenge grant and used the grant to attend a trade mission in Morocco. The Aventure team returned with a $1.8 million contract from the Moroccan Air Force in 2017.

“Instead of circulating the same money within the USA between domestic buyers and domestic sellers, we are bringing fresh revenues to the U.S. and to the State of Georgia thanks to EXIM Bank’s backing. With the continued support of EXIM, our plans are to expand our facilities substantially with a new campus that will triple our capacity and increase manpower.”
Zaheer Faruqi, President