Answer 11

FAQ's

11. How can I find export financing?

The first source for export financing is your local banks:

First National Bank of Anchorage 646 W. 4th Avenue Anchorage, AK 99501 Telephone (Main Line) - (907) 276-6300	Key Bank 101 W. Benson Blvd. Anchorage, AK 99503 Telephone - (907) 562-6100 or toll free - (800) 539-2968
Northrim Bank 3111 C Street Anchorage, AK 99503 Telephone - (907) 562-0062	Wells Fargo (NBA) 301 W. Northern Lights Blvd. Anchorage, AK 99503 Telephone - (907) 267-5700

The Small Business Administration (SBA) offers loan guarantees through their Export Working Capital Program (EWCP) to help small businesses export. SBA's EWCP provides transaction-specific financing for loans of $833,333 or less. Exporters may use thi program for pre-export financing of labor and materials, financing receivables generated from these sales, and/or standby letters of credit used as performance bonds or payment guarantees to foreign buyers.

Please contact Ron Veltkamp, Assistant Director, SBA at (907) 271-4031 or via email: ronald_veltkamp@sba.gov.

Export-Import Bank (EXIM) of the United States offers a Working Capital Guarantee Program for working capital over $833,333. The program can be used to purchase raw material and finished products for export, pay for materials, labor and overhead to produce goods and/or provide services for export and cover standby letters of credit serving as bid bonds, performance bonds or advance payment guarantees. The EXIM Bank also has an Export Credit Risk Program to protect against both the political and commercial risks of a foreign buyer defaulting on payment. In addition, EXIM guarantees can be obtained on commercial loans to foreign buyers of U.S. goods or services to cover 100 percent of principal and interest against both political and commercial risks of nonpayment. in come cases, EXIM also offers direct loans to foreign buyers with competitive, fixed-rate financing for their purchases from the United States. For more information on EXIM Bank programs, please visit their website at: http://www.exim.gov.
AIDEA and EXIM Bank - In 1996 Alaska Industrial Development and Export Authority (AIDEA) became a City/State partner with the Export-Import Bank (EXIM) of the United States. The City/State partner program is a cooperative venture between the Ex-im Bank and state and local finance and development agencies that help small and medium-sized businesses understand and make greater use of the EXIM Bank's financing programs. Through the partnership, AIDEA gives Alaskan businesses local access to the EXIM Bank's financing programs. The nearest regional office of the EXIM Bank is located in Los Angeles, California. However, your local AIDEA office is located at:

813 West Northern Lights Boulevard
Anchorage, AK 99503
Phone: (907) 269-3000
Fax: (907) 269-3044
http://www.aidea.org

The Private Export Funding Company (PEFCO), a private corporation owned by commercial banks, industrial corporations, and financial services companies, suppliements existing EXIM and private programs for export financing. PEFCO was established witht eh support of the U.S. Treasury Department and the EXIM Bank. Its services include direct loans, note purchase facilities, securitization facilites and short-term working capital facilities. For more information, visit the PEFCO home page at: http://www.pefco.com or contact them by calling (212) 916-0300.