Meridian Finance Group, Los Angeles, CA, to be recognized at Ex-Im Bank Annual Conference in Washington, D.C., April 12-13
FOR IMMEDIATE RELEASE April 9, 2000
Marianna Ohe (202) 565-3206
Meridian Finance Group, Los Angeles, CA, has been chosen to receive the 2000 Small Business Broker of the Year award from the Export-Import Bank of the United States (Ex-Im Bank) for its successful contributions to the US export effort and US job creation. Meridian will be honored at an awards ceremony at Ex-Im Bank's Annual Conference at the Washington Hilton Hotel in Washington, D.C., April 12-13.
As of March 2000, Meridian was the broker of 79 active Ex-Im Bank insurance policies, of which 68 are small business policies. In 1999, Meridian issued 24 new Ex-Im Bank small business policies, and in the first two months of 2000 — 10 policies.
Meridian Finance Group is an outstanding example of a partner that enables Ex-Im Bank to reach many small businesses that otherwise would not be able to compete in the global marketplace, said Ex-Im Bank Board Member Dan Renberg. By providing these companies with Ex-Im Bank insurance, Meridian helps protect them against payment default by foreign buyers, and enables them to get the financing they need to fill foreign orders while offering competitive credit terms.
During 1999, we doubled our total monthly export sales for 69 exporters in 11 states from $2 million to over $4 million per month with the support of Ex-Im Bank credit insurance, said Meridian Finance Group President Gary Mendell. Our objective is to continue doubling this figure every year.
Meridian offers a wide range of export financing alternatives, including credit insurance from both Ex-Im Bank and private sector underwriters. Meridian actively promotes these programs to small business exporters throughout the western United States.
Ex-Im Bank is an independent US government agency that helps finance the sale of US exports to developing markets throughout the world by providing loans, guarantees, and insurance. In fiscal year 1999, Ex-Im Bank helped to finance nearly $17 billion of U.S. exports worldwide.