Bibby International Trade Finance Named Approved Lender By Export-Import
Bank of U.S.
Bibby International Trade Finance has been named an approved lender by the Export-Import
Bank of the United States, a critical product that will be used to help its clients pursue export
opportunities. This is especially important to manufacturing companies that are seeking new
business in other countries to offset the economic downturn.
Atlanta, GA (PRWEB) July 1, 2009 -- Bibby International Trade Finance, a division of Bibby Financial Services,
announced today that it has been named an approved lender by the Export-Import Bank of the United States
(Ex-Im Bank), strengthening its ability to provide export receivables financing to help its clients grow their
"This is a critically important product for us to offer at this time as many U.S. manufacturing companies are
looking to expand into overseas markets - such as India- to offset the downturn in the U.S. economy," Bibby
International Trade Finance Managing Director Ian Varley said. "The main job of Ex-Im Bank is to promote U.S.
exports and increase jobs here in the U.S. Now, as an approved delegated authority lender of Ex-Im Bank, we
have the necessary tools to work with our clients to provide facilities for their overseas trade."
As a working capital delegated authority lender, Bibby international Trade Finance will have the ability to
underwrite Ex-Im Bank guarantees to support the financing it provides to its clients to insure that if the export
fails EX-Im Bank will provide payment to Bibby. Designation as an approved Ex-Im lender is especially
important in the current environment as bank lending has tightened, export credit insurance is less and less
available and U.S. companies are seeking financing sources to help break into new markets.
"Many lenders don't like to support export trade because it can be difficult to get paid back if the overseas
customer defaults," Varley explained. "Being named an approved lender by Ex-Im Bank give