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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