Team Askin Technologies, Inc. (TATI) is a minority woman-owned company, located in Fairfax, Virginia. This 45 employee company provides software and consulting services, including regulatory information management systems and aviation regulatory expertise.
In late 2009, TATI was awarded a large multi-million dollar contract by the Kingdom of Saudi Arabia General Authority of Civil Aviation located in Jeddah. TATI recognized it needed working capital for this major project, so it obtained a $2.8 million line of credit from PNC Bank backed by EXIM Bank’s working capital loan guarantee. The funds were used to post the bond requirement for the project and to provide more resources to ensure its completion.
The company also worked with their broker Global Insurance Services to obtain an export credit insurance policy for $5 million from to mitigate the risk of nonpayment from their foreign buyers. As a result, TATI has been able to increase their exports and create 25 more jobs.