FOR IMMEDIATE RELEASE April 14, 2008
Marianna Ohe (202-565-3206)
WASHINGTON, D.C. -- Hencorp Becstone Capital, LC of Miami, Fla., is to receive the 2008 Small Business Regional Lender 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.
Over the last five years, Hencorp has offered more than $100 million in Ex-Im Bank short- and medium-term financing products to support U.S. small business sales to Latin American small and mid-sized companies. The partnership expands Hencorp's business while widening Ex-Im Bank's reach among U.S. small business exporters already serving or seeking Latin American markets. Hencorp currently has a $60 million Ex-Im Bank portfolio.
Our overall business has grown by a third since our partnership with Ex-Im Bank began in 2003, said Hencorp Vice President Fernando Diaz. Since we're more relationship-driven than deal-driven, Ex-Im Bank is a perfect fit; it gives us the opportunity to offer trade financing services to clients we're already working with, as well as find new clients.
Hencorp has been a leading provider of Ex-Im Bank's short and medium-term financing products to buyers throughout Latin America, said Ex-Im Bank Chairman and President James H. Lambright. Its focused marketing strategy, in-market presence, and careful underwriting and due diligence practices have produced a high-quality portfolio. With a typical loan size of less than $1 million, Hencorp has made a valued contribution to Ex-Im Bank's small business mission. They are certainly a most worthy recipient of this award.
A wholly-owned subsidiary of Hencorp Becstone, LC, Hencorp has strong relationships across different industries in Central America, the Caribbean, the Andean Region as well as other parts of Latin America. Its in-country staff provides support to Hencorp's Miami headquarters throughout the life of its loans and is in constant contact with the borrowers, resulting in a claims-free portfolio throughout its partnership with Ex-Im Bank.
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.