FOR IMMEDIATE RELEASE February 3, 1999
Ken Murphy (202) 565-3200
The Export-Import Bank of the United States` (Ex-Im Bank) new branch office in San Jose, California is bringing expert financing assistance to its single largest U.S. export region with the help of Branch Manager Jim Lucchesi. Lucchesi comes to Ex-Im Bank with more than 25 years experience in international banking and trade finance. During the last five years, Lucchesi worked in Bank of America`s International Trade Banking Group in New York and San Francisco.
The San Jose regional office is part of an aggressive effort Ex-Im Bank is undertaking to meet the growing demands our existing and potential export customers have for export financing, said Ex-Im Bank Chairman James A. Harmon. Ex-Im Bank is committed to strong business outreach and we know that close customer contact is an important part of our continued success.
Harmon helped establish Ex-Im Bank`s San Jose office as part of an overall expansion of outreach activity after reviewing the potential growth this critical export area represents for U.S. exports and Ex-Im Bank. In August, Harmon met with the staff of the Department of Commerce`s San Jose United States Export Assistance Center (USEAC) where Ex-Im Bank`s new branch office is located.
In the last five years, Ex-Im Bank has financed more than $12.2 billion in exports from by 891 different companies in 292 communities in Alaska, California, Oregon and Washington - which makes this area of the country Ex-Im Bank`s single largest financing market. This region is also one of the fastest growing areas for high technology industries in the country. Ex-Im Bank is committed to helping high tech businesses reach their export potential.
Ex-Im Bank is an independent federal government agency that promotes and assists in financing the sales of U.S. goods and services to markets worldwide. Ex-Im Bank financing includes: loans and guarantees of commercial bank loans to foreign buyers of U.S. goods; guarantees working capital loans to small and mid-size U.S. companies to finance export-related costs such as nventory production; and insures U.S. companies and banks against payment default by foreign buyers. In fiscal year 1998, Ex-Im Bank helped to finance $13 billion in U.S. exports.
Interested companies can reach Ex-Im Bank`s San Jose office by phoning (408)-271-7300 ext. 104.