SBA Administrator Recognizes Export Lenders of the Year
April 8, 2016
(SBA)
Record lending to small biz exporters reaches $1.5 billion, up 22% since 2013
WASHINGTON, D.C. – Maria Contreras-Sweet, Administrator of the U.S. Small
Business Administration, recognized GBC International Bank of Los Angeles as the
SBA 2016 Export Lender of the Year, and BanescoUSA, a community bank with
headquarters in Coral Gables, Florida as SBA’s Export Working Capital Lender of
the Year at the 9th Annual SBA Export Lenders’ Roundtable, in Washington, D.C.
“Two-thirds of the world’s purchasing power can be found outside of the United
States, but only about one percent of America’s 28 million small businesses are
reaching beyond the border,” said Contreras-Sweet. “Since I took over at the
SBA, we have redoubled our efforts to grow small business exports. And I’m
pleased to report that we broke records last year, guaranteeing $1.5 billion in
SBA-backed export loans, a 22 percent increase since 2013.”
“Thanks to GBC International Bank, a model SBA export lender supporting all
three of SBA’s core export loans, today we are changing lives and paving the way
for countless American small businesses to grow and create good jobs through
trade,” added Contreras-Sweet. “I am proud to recognize this great partner for
the vital work it continues to do for our nation’s small business community.”
Contreras-Sweet also praised BanescoUSA for filling a critical funding gap that
many small exporters have when it comes to working capital. “The world has
become an increasingly borderless marketplace, a fact that raises the stakes for
every business and every nation that wants to stay competitive. Together,
BanescoUSA and the SBA are demonstrating that, with the availability of timely,
niche financing, small businesses have what it takes to deliver competitive
goods and services anywhere in the world.”
GBC International provided $18.3 million in export financing to small business
exporters in 2015 using all three SBA export loan programs: Export Express,
Export Working Capital, and International Trade Loans.
BanescoUSA provided working capital export loans totaling $13.7 million to small
business exporters in 2015 using SBA’s Export Working Capital Loan Program.
Receiving the award for GBC International Bank were Executive Vice President
Annie Pan and Vice President Edward Tang. Ms. Ana Lorenzo, Vice President for
Trade Finance Lending, received the award for BanescoUSA.
Last year, SBA guaranteed a record 1,777 loans to small business exporters for
$1.45 billion, which supported an estimated $3.3 billion in export sales. Small
businesses account for one third of all U.S. export sales.
“Despite these gains, small firms still face the greatest obstacles to
internationalizing their businesses, as regulations vary so greatly from one
country to the next,” added Contreras-Sweet. “This is a key area where SBA is
working with public and private sector leaders around the world to open up new
opportunities for small businesses to grow and prosper. Bringing these barriers
down is more than an economic imperative. It is our best path forward to
creating the good local jobs and cross-border business networks that form the
basis for a strong, democratic global economy.”
The SBA Export Lenders Roundtable was sponsored by the SBA Office of
International Trade. The event brings together export lenders and other experts
to share best practices and encourage increased export financing to small
businesses. This year, it included sessions on SBA’s Export Loan Programs
results and impact, an economic outlook presentation by the National Association
of Manufacturers, export lenders insights on financing transactions to Latin
America, and lender best practices and program recommendations.
For more information about SBA’s export lending programs, visit www.sba.gov/international.
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