East West Bank Named SBA 2015 Export Lender of the Year
April 27, 2015
(SBA)
Pasadena-based Bank Recognized at DC Ceremony
WASHINGTON –East West Bank of Pasadena, Calif.,
was recognized as the 2015 Export Lender of the
Year by the U.S. Small Business Administration
(SBA), for its remarkable performance in
providing $16.43 million in export financing to
small businesses in 2014. East West Bank’s
Senior Vice President Wai-Chun Li was presented
the award by SBA Administrator Maria
Contreras-Sweet at the 8th Annual SBA Export
Lenders’ Roundtable in Washington, D.C.
“East West Bank is a proactive lender that has
recognized the benefits of offering a spectrum
of SBA export loan guarantees to meet the
financing needs of small business exporters in
multiple states. That is why it gives me great
pleasure to recognize the hard work of all SBA
Export Lenders and, in particular, recognize
East West Bank as the SBA Export Lender of the
Year,” said Administrator Contreras-Sweet.
“Today, 98 percent of American companies that
export are small businesses and one out of
every five jobs is tied to exports. Under
President Obama’s Administration, SBA has
supported $5.6 billion in loans to small
business exporters – financing that wouldn’t be
possible without our lending partners. I look
forward to working closely with our SBA Export
lenders to break down silos within their
organizations to expand the number of small
dollar export loans and support an ecosystem
that eliminates barriers to small business
exporting.”
The California-based bank has 130 branches
nationwide, including in Washington, Georgia,
Nevada, Massachusetts, New York, and Texas.
East West Bank has been an SBA lender since
1999. In FY 2014, the bank provided over $211
million in general SBA loan funding, of which
$16.43 million were export-related loans up
from $3.95 million in export-related loans in
FY 2012.
Exports continue to be a driving force behind
the nation’s economic recovery, and SBA export
lenders are crucial in helping U.S. businesses
start, grow and successfully expand their
presence in the global marketplace. According
to most recent Census Bureau data for calendar
year 2014, U.S. exports of goods and services
increased to a record $2.35 trillion.
In FY 2014, SBA approved 1,641 loans to small
business exporters for $1.34 billion, more than
double the amount of $611 million provided four
years ago in FY 2010.
The Export Lenders Roundtable, sponsored by the
SBA Office of International Trade, is an annual
event that brings together export lenders and
other experts to share best practices and
encourage increased export financing to small
businesses. This year’s event included sessions
on SBA export loan data and trends, an update
by the Office of Capital Access, lender best
practices, and SBA’s response to lender
recommendations.
For more information about SBA’s export lending
programs, visit www.sba.gov/exporting.
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