BBCN Bank named SBA Export Lender of the Year 2013
April 3, 2013
(SBA)
SBA, Lenders Convene in Washington, D.C. for the 6th Annual SBA Export Lenders’
Roundtable
WASHINGTON –U.S. Small Business Administrator (SBA) Karen Mills today named BBCN
Bank the SBA Export Lender of the Year for 2013. During the announcement, made
at today’s 6th Annual Export Lenders’ Roundtable in Washington, D.C.,
Administrator Mills highlighted the Los Angeles lender’s continued work
facilitating international trade financing for small businesses, including the
nearly $13 million in export working capital financed by BBCN in 2012.
“Today, nearly 96 percent of consumers and over two-thirds of the world's
purchasing power reside outside the United States, and SBA is committed to
providing small businesses with the tools they need to tap into this global
market,” said Administrator Mills. “In partnership with BBCN Bank and our
partners across the lending community, SBA is creating more access and
opportunity for the approximately 268,000 small businesses that currently
export, and ensuring that even more small businesses have the capital they need
to successfully reach customers overseas.”
BBCN, which specializes in banking products for small and medium sized
businesses, serves a diverse mix of customers that mirror their respective
communities, including the largest Korean population concentration outside
Korea. The bank holds more than $5 billion in assets and participates in the
Preferred Lender Program with the SBA.
Small businesses now constitute 34 percent of total export dollars, and comprise
approximately 97.8 percent of all exporters. Today’s forum brought SBA lending
and international trade officials together with our federal and lending partners
to address ways to build upon these successes—including ways to expand access to
small business trade financing—and to update lenders on changes to SBA loan
programs and review improved lender oversight.
Another high point of the roundtable was the launch of the U.S. Global Business
Solutions pilot program, a cross-agency effort geared toward increased access to
finance for SME exporters.
The six federal agencies involved in the program are:
- Export-Import Bank
- U.S. Small Business Administration
- U.S. Department of Agriculture
- U.S. Department of Commerce/International Trade Administration
- U.S. Trade Development Agency; and
- Overseas Private Investment Corporation
For more information about the 6th Annual SBA Export Lenders Forum, contact Dennis Chrisbaum at dennis.chrisbaum@sba.gov.
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