FOR IMMEDIATE RELEASE April 14, 2008
Marianna Ohe (202-565-3206)
WASHINGTON, D.C. - Global Commercial Credit L.L.C. of Bingham Farms, Mich., is to receive the 2008 Small Business Regional Broker of the Year award from the Export-Import Bank of the United States (Ex-Im Bank) at Ex-Im Bank's annual conference in Washington, D.C., on Thursday, April 17.
A specialty broker for all types of credit risk insurance, Global Commercial Credit has in two years more-than-tripled the number of its small business exporters in the Midwest that use Ex-Im Bank's small business multi-buyer export credit insurance.
Since Ex-Im Bank introduced its on-line service in 2006, our insurance processing and customer service have been greatly streamlined, and business has really started to pick up, said Global Commercial Credit President Craig Bonnell. Export credit insurance represents 25 percent of our business, but it is growing significantly faster than our domestic business now.
Global Commercial Credit's fast growth demonstrates how brokers using Ex-Im Bank's interactive web-based service, Ex-Im Online, can generate more business while serving more small businesses seeking financing to compete in global markets, said Ex-Im Bank Chairman and President James H. Lambright. We are delighted to recognize their achievements by presenting them with this award.
Using Ex-Im Online, exporters, lenders and brokers can more quickly apply for insurance, monitor the status of applications, receive and accept quotes, report shipments, obtain buyer approvals and request policy amendments.
Founded in 1995, Global Commercial Credit works with a variety of banks and exporters. The majority of its U.S. business is in the Midwest and on the East Coast, but it has clients across the country and an office in Shelton, Conn. The company has added three new employees within the last year.
Ex-Im Bank's 33rd annual conference on April 17 and 18 will be held at the Omni Shoreham Hotel in Washington, D.C. The award ceremony will take place during the April 17 luncheon program which begins at 12:30 p.m.
Ex-Im Bank is the official export-credit agency of the United States. The independent, self-sustaining federal agency, now in its 74th year, helps create and maintain U.S. jobs by financing the sale of U.S. exports, primarily to emerging markets throughout the world, by providing loan guarantees, export-credit insurance and direct loans. In fiscal year 2007, Ex-Im Bank authorized $12.6 billion in financing to support an estimated $16 billion of U.S. exports worldwide. The Bank authorized $3.4 billion in direct support of small businesses for the year. The 2,390 transactions in support of small business during 2007 represented 85.6 percent of all Ex-Im Bank transactions. For more information, visit www.exim.gov.