Minnesota Company Helps Small Business Exporters
FOR IMMEDIATE RELEASE April 8, 2012
Phil Cogan (202-565-3200)
Washington, D.C. - Trade Acceptance Group, a trade finance company headquartered in Minneapolis with offices in Chicago, will receive the Broker of the Year award from the Export-Import Bank of the United States (Ex-Im Bank). The award will be presented at the Bank's 37th Annual Conference, Ex-Im -Your Competitive Edge, on April 12 in Washington, D.C.
Trade Acceptance Group provides Ex-Im Bank services including short-term insurance, working capital guarantees, and medium-term insurance and loan guarantees for foreign buyers, as well as offering credit reports, consulting and training services.
Trade Acceptance Group has done a remarkable job of supporting small business exporters, said Fred P. Hochberg, chairman and president of Ex-Im Bank. Ex-Im Bank applauds Trade Acceptance Group's aggressive outreach efforts, and we look forward to continuing our partnership and helping to create more U.S. jobs in the process.
Our relationship with Ex-Im Bank long precedes TAG's 16 year history as a broker; they were an extremely important resource to our clients when we were international bankers, said Curt Hanson, Principal, TAG. They are now more than ever a key success factor for our clients whose export activities depend on Ex-Im Bank's support to grow and flourish. Our success is really a function of our clients' success and both depend on Ex-Im Bank.
Most of Trade Acceptance Group's business involves Ex-Im Bank-supported transactions, although the company works with all insurers covering the export credit market. In addition to working with U.S. exporting firms, it works with U.S. banks that have exporting clients, including many independent community banks that provide a good source of small business clients. Trade Acceptance Group also works with regional banks and larger companies and has clients coast-to-coast.
In FY 2011, Trade Acceptance Group was recognized as one of Ex-Im Bank's top brokers and most active broker for Small Businesses. TAG was also recognized as Ex-Im Bank's Broker of the Year in 2002 and 2008.
Ex-Im Bank's 2012 Annual Conference will feature prominent members of the business and government community including; President Bill Clinton, chairman of the Clinton Global Initiative, Mayor of Chicago Rahm Emanuel, Jeffrey Sachs, director of the Earth Institute at Columbia University, Commerce Secretary John Bryson, David Rubenstein, co-founder and managing director of The Carlyle Group, Mo Ibrahim, founder of the Mo Ibrahim Foundation, and Dean Oskvig, president and CEO of Black & Veatch's global energy business. A full listing of speakers, panelists, and moderators is available on Ex-Im's website.
About Ex-Im Bank:
Ex-Im Bank is an independent federal agency that helps create and maintain U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. In the past five years, Ex-Im Bank has earned for U.S. taxpayers $1.9 billion above the cost of operations. The Bank provides a variety of financing mechanisms, including working capital guarantees, export-credit insurance and financing to help foreign buyers purchase U.S. goods and services.
Ex-Im Bank approved $32.7 billion in total authorizations in FY 2011 -- an all-time Ex-Im record. This total includes more than $6 billion directly supporting small-business export sales -- also an Ex-Im record. Ex-Im Bank's total authorizations are supporting an estimated $41 billion in U.S. export sales and approximately 290,000 American jobs in communities across the country. For more information, visit www.exim.gov.