WASHINGTON, D.C. -October 6, 2014, ExWorks Capital announced it has successfully raised an additional $50 million in capital for premier fund dedicated to finance small and medium-sized exporters using support from US EX-IM Bank, the Private Export Funding Corporation (PEFCO) and other financial institutions. This makes ExWorks Capital one of the largest sources of capital for small business exporters.
This makes ExWorks Capital one of the largest sources of capital for small business exporters. Given the recent debate regarding the role of EX-IM Bank, it is positive to see investors respond to the important export sector of the U.S. economy, particularly for the growing numbers of small to medium sized businesses.
ExWorks Capital is quickly becoming an important player in small business exports, a segment that is typically under served by traditional lenders.
“This is a significant accomplishment” said Timothy C. Dunne, President & CEO of PEFCO. “This demonstrates the faith the market has, not only in American businesses that want to expand abroad, but also in ExWorks Capital and the services EX-IM Bank provides to support US small business.”
PEFCO’s shareowners include most major commercial banks involved in financing U.S. exports, industrial companies, and financial services companies. PEFCO was established with the support of the U.S. Department of the Treasury and EX-IM Bank to assist the marketplace finance U.S. exports through the capital markets.
“The fastest way to grow our GDP and erase the trade deficit is to support American companies that want to increase their customer base abroad” said John McAdams, CEO of ExWorks Capital and newly-appointed PEFCO Board Member. “Every time we make an investment, we are helping entrepreneurs and small business owners live the American Dream.”
About ExWorks Capital. ExWorks Capital is a specialty finance company established in 2013 that offers export financing solutions to U.S. exporters and qualified international buyers using EX-IM Bank loan guarantees and insurance, private insurance, letters of credit, etc. For companies that wish to outsource their export activities, ExWorks Capital can buy the product as a domestic sale and then handle international logistic and payment issues. For companies that need receivables and inventory financing for their exports, or have ongoing business and need working capital to service overseas accounts, ExWorks Capital can lend to the U.S. exporter. Should the overseas importer need more generous trade terms or longer term financing (2-10 years), ExWorks Capital can support the U.S. export with long-term loans.
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