Newspaper article THE JOURNAL RECORD

Finance Programs Presented to Oklahoma Exporters, Banks

Newspaper article THE JOURNAL RECORD

Finance Programs Presented to Oklahoma Exporters, Banks

Article excerpt

By Nancy Raiden Titus

Journal Record Staff Reporter

Oklahoma exporters and their banks are receiving inpth presentations on export finance programs of the Exportport Bank of the United States this week as two representatives of the Washington, D.C., agency visit the state.

The Oklahoma presentations are part of a fournth 50-city tour to promote the working capital guarantee program of the Eximbank. Commercial bankers and small business owners are the targets.

Robert M. Chadwick, international loan officer, and Augustine A. Grace, marketing officer, were in Oklahoma City during the first part of the week and planned to go to Tulsa today.

"This is part of a major effort to increase the awareness of our programs to small business, primarily through the working capital program," Grace said.

The program provides guarantees which assist local bankers in making shortrm working capital loans for preport needs.

"It is an incentive for banks which are reluctant to work with small and mediumzed credits," explained Chadwick.

The men said they want to generate interest among the small businesses which are exploring exporting possibilities. The majority of Eximbank's business has been with the multitional companies, but the working capital program is one that is geared to small business.

During their visit, they discussed the agency's programs with individual banks and their customers, the Oklahoma City International Trade Association and at a Wednesday afternoon workshop at the Oklahoma Department of Commerce which detailed export finance case studies.

Grace explained that the Exportport Bank is not a bank at all. It is a government agency chartered in 1934 by Congress, and contrary to its name, it works only to promote U.S. exports.

It does that "by matching the effect of export credit subsidies from other governments and by absorbing reasonable credit risks that are beyond the current reach of the private sector," according to its mission statement.

Eximbank offers loans to foreign buyers of U. …

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