FOR IMMEDIATE RELEASE September 16, 1999
Nancy Publicover (202) 565-3200
The Export-Import Bank of the United States (Ex-Im Bank) is uniting with export community leaders in the Private Outreach Program (POP), a year-long pilot program to teach private lenders and businesses about how to finance export sales and use Ex-Im Bank's export credit insurance, loans, and loan guarantee programs.
Lenders are often our first line of contact with exporters, said Ex-Im Bank Vice Chair Jackie Clegg. The more we can teach them to use our resources, the more we can help support U.S. businesses. Our POP members have the resources and the know-how to make this effort a success.
Export Assist Inc. of San Francisco is a founding member of the POP and is holding its first ExTEC (Export Technology and Education Course) seminar in January 2000. ExTEC courses include educational materials, seminars, and ongoing support. Complete information will be available from Ex- Im Bank in early November.
We believe the POP program benefits everyone, said Joseph Englert, president of Export Assist. There's a real need for export finance education. Our ExTEC course will help all lending officers finance both medium and small export transactions profitably using Ex-Im Bank guarantee and insurance products. Englert estimated that of approximately 9,100 banks registered in the United States, only 300 are involved in export transaction financing.
POP outreach activities are suited to the expertise of the participating member. A POP member may offer a seminar to bankers on how to set up an international division or how to work with letters of credit. Exporters may be shown the various ways to charge for shipping, how to monitor accounts receivable and how to work with their bank for maximum cash flow. The programs will compliment Ex- Im Banks three-day training workshops and integrate information on Ex-Im Bank's programs for small- and medium-sized businesses.
The Ex-Im Bank is an independent U.S. government agency that assists in financing the export of U.S. goods and services to industrializing and developing markets all over the world, by providing loans, guarantees, and insurance. Nationally, Ex-Im Bank supported nearly $13 billion in U.S. exports in the 1998 fiscal year.
For information on how to join Ex-Im Bank's Private Outreach Program
Contact: Gerald Solomon at (202) 565-3904 or by e-mail at email@example.com