Export-Import Bank of the United States Board of Directors Unanimously Approves “Fast Track” Status for Huntington National Bank
WASHINGTON – The Export-Import Bank of the United States (EXIM) Board of Directors today unanimously approved Huntington National Bank, headquartered in Columbus, OH, for Fast Track lender status under EXIM’s Working Capital Guarantee Program (WCGP).
This status allows Huntington National Bank, one of EXIM’s most active lenders and a former EXIM Lender of the Year, the ability to commit EXIM’s guarantees on loans from $10 million up to $25 million for approval on an expedited basis. The loans must meet EXIM’s standard underwriting criteria. Eight banks currently have Fast Track status with EXIM: Bank of America, Citibank, Comerica Bank, HSBC, JPMorgan Chase Bank, PNC Bank, Wells Fargo Bank, and Zions Bancorporation.
“Huntington National Bank has been a strong partner for America’s exporters and has delivered on commitments to small businesses and minority- and women-owned businesses,” said EXIM President and Chair Reta Jo Lewis. “Providing Huntington National Bank with Fast Track lender status is critical at a time when all levels of government are expediting efforts – like the Make More in America Initiative – to reshore jobs and support manufacturing of products like semiconductors around the country.”
The Fast Track program was established in 2006 and has contributed to the growth of the WCGP since its inception. In fiscal year 2021, Fast Track loan facilities totaled $106.4 million and comprising 21.4 percent of total WCGP authorizations. Since 2013, loan facilities committed under Fast Track totaled $1.7 billion, representing 104 loan facilities.
The Export-Import Bank of the United States (EXIM) is the nation’s official export credit agency with the mission of supporting American jobs by facilitating U.S. exports. To advance American competitiveness and assist U.S. businesses as they compete for global sales, EXIM offers financing including export credit insurance, working capital guarantees, loan guarantees, and direct loans. As an independent federal agency, EXIM contributes to U.S. economic growth by supporting tens of thousands of jobs in exporting businesses and their supply chains across the United States. Since 1992, EXIM has generated more than $9 billion for the U.S. Treasury for repayment of overall U.S. debt. Learn more at www.exim.gov.