U.S. Export-Import Bank changes with world trading environment

Susan Rodes

U.S. EXPORT-IMPORT BANK Changes With World Trading Environment

In the changing international marketplace, the need for export financing has become critically important. The Export-Import Bank of the United States (Eximbank) is meeting this need with loan, guarantee, and insurance programs designed to facilitate U.S. exports. At the direction of Congress and in the face of a persistent trade deficit, the Eximbank has instituted the most significant overhaul of its programs since 1960 to make them as accessible, affordable, and competitive as possible for U.S. exporters. The programs went into effect May 1.

This year also, Eximbank began two major initiatives to get the word out about changes in its programs. First, a six-month "blitz' campaign placed Eximbank officers face-to-face with 4,748 exports and bankers in 33 states. Second, the Bank launched in October a test marketing program in cooperation with three state governments and three city governments to reach out to small business exporters at the local level (see article on pages 6 and 7).

In a related effort, the Eximbank convened an Interagency Task Force on Trade to educate federal trade officials and foreign buyers about program changes and the new accessibility of Eximbank (see article on page 5).

The mission of Eximbank is not an easy one. Factors which make it even more difficult include foreign subsidized financing, the international debt situation, and the lack of competitiveness of American firms.

Foreign Subsidized Financing

The United States has a long history of aiding lesser developed countries for humanitarian reasons. However, aid is now also needed to counter subsidized financing by foreign governments in the form of "mixed credits' or "tied-aid.' That is the combining of regular loans with grants to obtain an interest rate well below the rates of the Organization for Economic Cooperation and Development (OECD). The U.S. Government has been negotiating for three years with other OECD countries in an effort to reach agreement on a sharper distinction between development assistance and financing of the kind provided by Eximbank that is at or close to market rates and terms.

In order to bring pressure to bear upon the negotiations, President Reagan proposed legislation and funding for a "war chest' to be used to combat this practice. In October 1986, a $300 million war chest was authorized and $100 million was appropriated for the first year. Partially in response to these efforts, the OECD has agreed to tighten the rules governing the use of tied aid and other subsidized concessionary loans that distort international trade.

The full impact of foreign subsidized financing on U.S. suppliers, particularly in Asian markets, has become painfully apparent. Many sectors of U.S. industry have suffered, especially engineering and construction firms and manufacturers of telecommunications and electric generating equipment. With today's lower U.S. interest rates and the automatic adjustments in the interest rates of government-supported export credits, American firms can be competitive when other governments confine their offers to standard export credit terms. However, business continues to be won by other nations that mix aid development funds with export credits or use development assistance to provide the entire financing for a commercial project.

Government-subsidized financing of exports has become a way of life for some of our principal trading partners. Government loans in many large overseas markets have become so prevalent that American suppliers simply cannot compete without an offer of U.S. government-supported loans. Changes in this situation are being made, but more must be accomplished if America is to compete fairly for international contracts.

International Debt

The international debt situation has now reached critical proportions. It is not only the problem of the debtor countries, but also of creditor countries. Uncertain recovery prospects in a number of America's historical export markets have caused concern in the commercial banking community. The availability of export financing from the private sector has dwindled significantly.

The low profit margin caused by the high overhead and risks has made international financing a thing of the past for many financial institutions. Recent Federal Reserve Board statistics indicate the extent of the retreat of U.S. banks from export finance in developing countries. Outstanding trade finance lent by U.S. banks to Asia, Latin America, and oil-exporting countries totaled $37.7 billion at the end of the third quarter of 1986, down 12 percent from $43.1 billion six months earlier.

The heavily indebted developing countries once provided major markets for exports from the United States. Since 1981, U.S. sales to those countries have dropped from $42 billion to $31 billion. The international debt situation has impacted nearly every country in the world. Many developing countries are unable to pay cash, and developed countries are unwilling to provide credit--a situation that adds doubt to the already unstable future of many of these countries.

Competitiveness

At the end of World War II, the United States was the world's largest producer. Government demand for increased production spurred major investments in domestic industries needed for the war effort. After the war, factories were converted to consumer goods production. The rising tide of international trade proved beneficial to this country, perhaps too beneficial. For many years the United States was lulled into a false sense of security by relying on past performance, instead of looking ahead to the potential changes in the world environment. Those changes have now hit this country with their full force.

American businesses have realized the need for change in the basic structure of the way business is done. It was once possible for our companies to produce only for our domestic market. However, increased imports and unfavorable dollar exchange rates made that policy extremely difficult to maintain. International trade is now a necessary part of commercial life.

Expenditures on research and development in the United States have increased in recent years, showing the growing realization that Americans must be innovative to compete successfully overseas. However, expenditures on research and development in both Japan and West Germany continued to grow at a faster rate than those in the United States.

The flight of American firms over the past decade to overseas production facilities has worsened the U.S. trade deficit without having a positive impact on U.S. production capabilities here. In order to compete effectively both here and abroad, U.S. businesses must consider the future consequences of moving operations offshore.

Lower dollar exchange rates and favorable changes in the world market are expected to help U.S. exporters recover from the slow growth in business, but changes also must come from within. An increased awareness of other cultures, product quality, and price competitiveness must accompany the new trade atmosphere. Instead of crying "protectionism,' American firms should be shouting "free and fair trade.'

Eximbank Changes

The Export-Import Bank understands the difficulties faced by today's international traders and is working to make its services available to more companies in more countries. Among the changes in the Bank's programs in 1987 was a revision of the loan and guarantee programs.

Under the new programs, Eximbank provides two types of loans: direct loans to foreign buyers of U.S. exports and intermediary loans to fund responsible parties that extend loans to foreign buyers.

Direct loans of any size and long-term loans to intermediaries (more than $10 million or over seven years repayment) are offered at the lowest interest rate permitted under the OECD arrangement.

Medium-term intermediary loans (less than $10 million and seven years) are structured as "standby' loan commitments. The intermediary may borrow against the remaining undisbursed loan at any time during the term of the underlying debt obligation. There is a prepayment fee if it is triggered by prepayment of the foreign borrower.

Eximbank's guarantee program assures repayment for private sector loans to creditworthy buyers of U.S. goods and services exports. The guarantee is available alone or may be combined with an intermediary loan. Most guarantees provide comprehensive coverage of both political and commercial risks, but political-risk-only coverage also is available. Both the loan and guarantee programs cover up to 85 percent of the U.S. export value, with repayment terms of one year or more.

The Working Capital Loan Guarantee Program, specifically designed for small businesses, assists companies of any size in obtaining crucial working capital to fund their export activities. The program guarantees 90 percent of the principal and a limited amount of the interest on working capital loans extended by banks to eligible U.S. exporters. The loan may be used for pre-export activities such as the purchase of raw materials, the manufacture of a product, or marketing.

Further, an exporter may reduce its risks by purchasing export credit insurance from Eximbank's agent, the Foreign Credit Insurance Association (FCIA). Policies available include insurance for financing or operating leases, medium-term insurance, insurance for the service industry, multibuyer and single-buyer policies, and the new-to-export policy.

The new-to-export policy is designed for companies that are new to exporting, or that have had only limited export sales in the past. The policy gives a company protection for its expanding worldwide sales against failure of a foreign buyer to pay an obligation for unforeseen commercial or political reasons. (See p. 8 for a rundown on Eximbank's small business programs.)

Information Services

Eximbank's programs are accompanied by information services to make the Bank more accessible. The Business Advisory Hotline (1-800-424-5201) supplies general information and answers to specific questions about Bank programs.

Eximbank's credit information service provides detailed financial and credit information on the 70,000 to 100,000 foreign buyers that Eximbank or FCIA have dealt with. Inquiries should be directed to the Export-Import Bank on (202) 566-4690.

The Remote Bulletin Board System (RBBS), accessible with a computer modem at (202) 566-4602, contains a list of Exim-certified commercial banks, the Country Limitations Schedule, Eximbank's most recent press releases, and the schedule of exporters' and bankers' seminars held by the Bank. A user must give his name and the name of the company he represents and then establish a password. The only other requirement of the system is that the user have IBM compatible equipment in order to be able to access all of the programs available.

Eximbank offers briefing programs that are available to the international business community. The programs include group briefings and individual discussions held both within the Bank and around the country. For scheduling information call (202) 566-8990.

Eximbank's four-day training seminars for domestic and foreign banks are offered every other month. In addition to familiarizing the participants with Eximbank's role in trade finance, attendance at the four-day seminar is one of the three steps needed by commercial banks to become a Certified Bank. Interested parties should contact the Marketing Division of Eximbank.

The Export-Import Bank is eager to help American businesses export. With the loans, guarantees, and insurance provided by the Bank, exporters are able to compete with greater risk coverage and better financing opportunities. For more information and applications, contact the Export-Import Bank of the United States, Office of Public Affairs and Publications, 811 Vermont Ave., NW., Washington, D.C. 20571 or call Eximbank's hotline number (1-800-424-5201).

INTERAGENCY TASK FORCE ON TRADE

Fourteen agencies and departments of the U.S. Government participate in the Interagency Task Force on Trade, formed last February to provide for continuing coordination of various federal export services. The goal is to make the vast amount of export information in the federal government more accessible to U.S. business, particularly to small- and medium-sized companies.

Soon after his arrival at Eximbank as a Director a year ago, Simon Co. Fireman recognized that throughout the federal government there were substantial resources available to help U.S. firms export. What was lacking was a vehicle with which to coordinate on a continuing basis the various government programs to promote exports and help improve the balance of trade account. Fireman, who has two decades of experience as an exporter and importer, proposed a cooperative effort that resulted in the Task Force, of which he is the chairman.

Fireman said the Task Force is determined to make "a cohesive interagency assault on the problem of enhancing our export posture.' Emphasizing that he was given the responsibility at Eximbank to develop programs to expand export participation by small- and medium-sized firms, he said, "It is estimated that there are an additional 18,000 small companies in our country which could profitably expand their distribution into Europe, Asia, and developing countries.'

The Task Force is seeking to demonstrate that the agencies of the federal government have available essential tools to assist U.S. firms in establishing their products and services in overseas markets.

Subcommittees are working on several fronts to increase export awareness in the business community. They are preparing video/electronic presentations on export assistance programs for targeted audiences. A video production is nearing completion on the quality and value of products "Made in the U.S.A.,' targeted for audiences in countries that Eximbank Directors and officials from other agencies consider to be promising markets.

Subcommittees also are working with business through trade associations and chambers of commerce to emphasize the potential profits in exporting.

Under a Task Force logo, a Guide to Exporters will be published: a comprehensive catalog of U.S. Government export financial and technical support programs. The Small Business Administration is compiling the guide, whose publication costs will be underwritten by a private-sector sponsor.

The Task Force meets on a regular basis to report on progress made in increasing export awareness. The meetings bring together senior officials from the various agencies. Officials in the trade arena from Congress, the White House, and the private sector also address Task Force meetings.

Agencies represented on the Task Force, besides the Eximbank, are the Departments of Agriculture, Commerce, State, and Treasury, the Agency for International Development, the General Accounting Office, the Overseas Private Investment Corporation, the Trade Development Program, the U.S. Information Agency, the Small Business Administration, the U.S. Trade Representative, the White House, and the private sector insurance agent of Eximbank--the Foreign Credit Insurance Association.

Many States Going Into Export Finance

A growing number of states are coming to the aid of small- and medium-sized companies in the form of information and dollars --a development encouraged by the Eximbank. Until now these companies have suffered from limited access to export financing.

Concerned about stagnant trade finance divisions in their local banking communities and the need to develop and maintain local employment, a number of states have established agencies to boost exports of relatively small companies.

The move illustrates increased awareness by state officials and businesspersons of the importance of international trade. It also reflects a general view that existing institutions such as the Eximbank must play an increasingly active role at the local level.

So far, 23 states have passed legislation to create a vehicle for export finance. Ten have programs in place and are actively lending, insuring, or guaranteeing exports of small- and medium-sized firms. Eximbank sees state agencies as a new marketing arm for its programs, particularly the Working Capital guarantee and short-term insurance. In some cases, state agency officials will be professionally packaging "Eximbank ready' applications to assist and speed their course from exporter to bank board review.

Three factors have kept state agencies from establishing a stronger foothold in export finance. According to a September survey of senior state trade officials, the easy part of export-support legislation is getting the bill through the state assemblies. Export promotion and finance is a major rallying cry from both the public and private sector; everyone has been made aware of the condition of the nation's trade balance and the need to improve it. However, export finance support programs are expensive to fund; trouble in obtaining money will probably limit the impact of state aid. Another problem is that international finance transactions are complicated and may be risky, making the cost of necessary analytical personnel high. Finally, to the extent that states do extend direct credit to exporters, they will have to comply with U.S. Government obligations, which include the guidelines of numerous multilateral trade agreements such as the Organization for Economic Cooperation and Development regulations on interest rates and maturity.

A more fruitful area of activity for new state agencies might be to acquaint small business with existing Eximbank pre- and post-export finance programs. By offering counseling and application packaging services, agencies can direct and expedite applications for federal export support service agencies.

More than half of the 50 states are addressing the need for export finance. Services include export-finance counseling . . . bank referrals . . . explanations of the mechanics of export credit, preshipment and postshipment guarantee programs, . . . and export credit insurance. Some states actually provide funding or guarantees for local exports. (See state-by-state guide to export services, pages 8 and 9).

The activity in this area on the part of the states reflects the widespread feeling that small- and medium-sized U.S. manufacturers simply don't know the ropes of export financing and need to be directed to the services they need.

The Eximbank, which has only one office in Washington, D.C., has a problem meeting and educating the small business exporter nation-wide.

To aggressively confront this concern over the next year, Eximbank has embarked on a test marketing program with three states: California, Maryland, and Massachusetts. The goal is to determine the proper interaction between state and federal programs so they can work more effectively together to facilitate the sale of U.S. goods abroad.

Eximbank wishes to work with the states on several levels. First, the states are not only coaching and guiding exporters but are also actively helping them find available financing. States are in a position to know their local businesses and are apt to be aggressive on their behalf. Eximbank responds with professional training in Washington on federally supported export finance; it maintains a list of certified banks in each of the states to assist in the search for resources.

For information on Eximbank training programs (one-day exporters' briefing; two-day program for bankers; and four-day program), contact Office of Public Affairs, Eximbank, 811 Vermont Ave. NW., Washington, D.C. 20571; telephone (202) 566-8990.

Second, many states are becoming important suppliers of working capital loans and guarantees. However, in many cases these programs are restricted by dollar amounts or state content rules that hamper the effectiveness of the programs. Eximbank stands ready to compensate for these shortfalls through additional guarantees.

Third, several states are currently offering export credit insurance. Under the umbrella policy, state governments in an arrangement with the Foreign Credit Insurance Association (an agent of the Eximbank) can supply insurance to exporters against foreign political and commercial short-term risk.

Fourth, Eximbank trains state export finance officials as professional packagers of Eximbank programs and applications. An important new change in Eximbank programs allows exporters to apply directly to Eximbank for direct credits, guarantees, or insurance rather than funneling their applications through banks.

By offering counseling and services, Eximbank is helping to expand the service portfolio of state agencies and, consequently, the nation's export base.

Eximbank Services For Small Business

The Export-Import Bank of the United States (Eximbank) is the government agency responsible for aiding the export of U.S. goods and services through a variety of loan, guarantee, and insurance programs. In recent years, as the international marketplace began to change, it became apparent that Eximbank's programs needed to better reflect this changing trade environment. Thus, the Eximbank has begun a major overhaul of its programs designed to provide greater risk protection to lenders and to make them more accessible to exporters.

Small Business Advisory Service--To encourage small businesses to sell overseas, Eximbank maintains a special office to provide information on the availability and use of export credit insurance, guarantees, and direct and intermediary loans extended to finance the sale of U.S. goods and services abroad. Its toll-free number is 1-800-424-5201.

Briefing Programs--Eximbank offers briefing programs which are available to the small business community. The program includes group briefings and individual discussions held both within the Bank and around the country. For scheduling information call (202) 566-8990.

Financial Support Program

Eximbank's financial programs generally are available to any U.S. export firm, regardless of size. The following programs, however, are particularly helpful to small business exporters and may be applicable to your needs.

Export Credit Insurance--An exporter may reduce its risks by purchasing export credit insurance from Eximbank's agent, the Foreign Credit Insurance Association (FCIA). Policies available include insurance for financing or operating leases, medium term insurance, the new-to-export policy, insurance for the service industry, the umbrella policy, and multibuyer and single-buyer policies. FCIA coverage protects the exporter against the failure of foreign buyers to pay their credit obligations for commercial or political reasons; encourages exporters to offer foreign buyers competitive terms of payment; supports an exporter's prudent penetration of higher risk foreign markets; and gives exporters and their banks greater financial flexibility in handling overseas accounts receivable. FCIA offices are located in the following cities.

New York: (212) 227-7020; 40 Rector St., 11th Floor, New York, N.Y. 10006--This office serves New England, New York, New Jersey, Pennsylvania, Delaware, the District of Columbia, Maryland, Puerto Rico, and Virginia.

Chicago: (312) 641-1915; 20 North Clark St., Suite 910, Chicago, Ill. 77002--This office serves Ohio, Indiana, Michigan, Illinois, Wisconsin, Minnesota, North Dakota, South Dakota, Iowa, Missouri, Nebraska, Kansas, Kentucky, and West Virginia.

Houston: (713) 227-0987; Texas Commerce Tower, 600 Travis, Suite 2860, Houston, Tex. 77002--This office serves Alabama, Georgia, Louisiana, Oklahoma, Arkansas, New Mexico, North Carolina, South Carolina, Texas, Mississippi, and Tennessee.

Los Angeles: (213) 687-3890; Crocker Center, Suite 2580, 333 South Grand Ave., Los Angeles, Calif. 90017--This office serves Alaska, Washington, Oregon, California, Hawaii, Nevada, Arizona, Montana, Wyoming, Colorado, and Utah.

Miami: (305) 372-8540; World Trade Center, 80 Southwest 8th St., Miami, Fla. 33130--This office serves Florida.

New-to-Export Insurance Policy--Eximbank offers through FCIA a short-term (1-180 days) insurance policy geared to meet the particular credit requirements of smaller, less experienced exporters. Under the policy, Exim assumes 95 percent of the commercial and 100 percent of the political risk involved in extending credit to the exporter's overseas customers. This policy frees the smaller exporter from "first loss' commercial risk deductible provisions that are usually found in regular insurance policies. The special coverage is now available to companies that have not used the services of Eximbank or FCIA during the past two years, and whose export sales did not exceed $1 million in the past year or $1.5 million over the past two years.

Umbrella Policy--In late 1984, Eximbank introduced a new Umbrella Policy to insure the receivables of companies with only limited experience in export trade. These policies will be available to commercial lenders, state agencies, finance companies, export trading and management companies, insurance brokers, and similar agencies to insure their client's export receivables. Exporters are eligible if they have not been insured by FCIA in the previous two years and have not had export credit sales of over $4 million in that period.

Working Capital Guarantee--The Working Capital Loan Guarantee Program assists small businesses in obtaining crucial working capital to fund their export activities. The program guarantees 90 percent of the principal and a limited amount of the interest on working capital loans extended by banks to eligible U.S. exporters. The loan may be used for pre-export activities such as the purchase of inventory, raw materials, the manufacture of a product, or marketing.

Eximbank requires the working capital loan to be secured with inventory of exportable goods, accounts receivable, or by other appropriate collateral. Eximbank will guarantee loans for up to 90 percent of the value of eligible collateral.

Eximbank/SBA Working Capital Co-Guarantee Program--In order to more effectively reach small businesses with its working capital guarantee authority, Eximbank concluded an agreement in August 1984 with the Small Business Administration to extend co-guarantees under SBA's Export Revolving Line of Credit (ERLC) Program. By participating on an equal basis with the SBA, Eximbank effectively increases the in-guarantee authority from $500,000 to $1,000,000. Thus, if an exporter qualifies as a small business and needs to borrow less than $1 million in working capital funds, both Eximbank and SBA resources are available.

Under this arrangement, SBA will continue to consider amounts below $200,000 solely for its ERLC program. Eximbank will continue to provide guarantees covering working capital loans or credit lines to companies which are not small business.

Direct and Intermediary Loans--Eximbank provides two types of loans, direct loans to foreign buyers of U.S. exports and intermediary loans to fund responsible parties that extend loans to foreign buyers of U.S. capital and quasicapital goods and related services. Both the local and guarantee programs cover up to 85 percent of the U.S. export value, with repayment terms of one year or more.

Direct loans of any size and long-term loans to intermediaries (more than $10 million or over seven years repayment) are offered at the lowest interest rate permitted under the OECD arrangement.

Medium-term intermediary loans (less the $10 million and seven years) are structured as "standby' loan commitments. The intermediary may borrow against the remaining undisbursed loan at any time during the term of the underlying debt obligation. There is a prepayment fee if it is triggered by prepayment of the foreign borrower.

Guarantees--Eximbank's guarantee provides repayment protection for private sector loans to creditworthy buyers of U.S. capital equipment and related services. The guarantee is available alone or may be combined with an intermediary loan.

Most guarantees provide comprehensive coverage of both political and commercial risks, but political-risks-only coverage is also available. It covers 100 percent of the principal amount of the financed portion. However, the exporter or the guaranteed lender must provide Eximbank with a counter-guarantee of 2 percent of the commercial risk on all medium-term loans of $10 million or less. In the event of a default, the guaranteed lender must file a claim no less than 30 and no more than 90 days after the default. The claim will be paid within five business days after receipt.

Repayment Terms--Eximbank-supported financing follows the repayment term guidelines customary in international trade. For capital goods sales, the guidelines are:

Contract Value Maximum Term

Up to $50,000 2 years

$50,000-$100,000 3 years

$100,000-$200,000 4 years

$200,000 and over 5-10 years, depending on certain variables.

Loans for projects and large product acquisitions, such as aircraft, are eligible for longer terms, while lower-unit-value items such as automobiles and appliances receive shorter terms.

A State Government Export Directory

Alabama

Fred Denton Alabama Department of Economic Affairs Box 2939 Montgomery, Ala. 36105 (205) 263-0048

Programs:

1. Education

2. Export Finance Referral List

3. Missions

4. Small Business Development

Alaska

Dan Dixon Department of Commerce Office of International Trade 3601 C St. Anchorage, Alaska 99503 (907) 561-5585

Programs

1. Education

2. Missions

3. Research: Alaska Center for International Business (University of Alaska)

4. Foreign Offices: Tokyo, Seoul

Finance: Greta Anderson Alaska Industrial Finance Authority P.O. Box D Juneau, Alaska 99811 (907) 465-2590

1. Legislation Passed, No funding as yet

2. Guarantees

Arizona

James C. Ferguson Arizona Department of Commerce 1700 West Washington, Fourth Floor Phoenix, Ariz. 85007 (602) 255-5371

Programs:

1. Education

2. Counseling

Arkansas

Maria Haley/Bill Wilson Arkansas Department of Economic Development One State Capital Mall Little Rock, Ark. 72201 (501) 371-7678 or 3545

(Just beginning new programs)

California

Robert de Martini California World Trade Commission 1121 L St. Sacramento, Calif. 98814 (916) 324-5511

Programs:

1. Education: Seminars and Counseling

2. Shows

3. Missions

4. Foreign Offices: Tokyo, London

Finance: Fargo Wells California Export Finance Authority 1075 South Broadway Los Angeles, Calif. 90012 (213) 620-2433

1. Legislation Passed

2. Funding

3. Guarantees, Pre- and Post-Export

4. Umbrella

5. Insurance

6. Exim Loan Guarantee Packages

Colorado

Lisa Wheeler International Trade Office 1313 Sherman St. Denver, Colo. 80203 (303) 866-2205

Programs:

1. Trade Fairs, Missions, and Seminars

2. Education

3. Literature

4. Counseling

5. Foreign Offices: Taiwan, Japan

Finance: Jan Sandhouse Hurst Colorado Finance and Housing Authority 777 Pearl St. Denver, Colo, 80203 (303) 861-8962

1. Legislation Passed

2. Insurance

Connecticut

Dawn Rodriguez Department of Economic Development 210 Washington St. Hartford, Conn. 06106 (203) 566-3842

Programs:

1. Education

2. Trade Shows, Missions

3. Foreign Offices: Tokyo, Frankfurt

Finance: Gary Miller Department of Economic Development 210 Washington St. Hartford, Conn. 06106 (203) 566-3842

1. Legislation Passed

2. Exporters Revolving Loan Fund

3. Guarantee: New-to-Export, Pre- and Post-Export, up to 5 years.

4. Direct Loans: up to $350,000

Delaware

Dr. Dale E. Wolf Delaware Development Office Box 1401 Dover, Del. 19903 (302) 736-4271

Programs:

1. Some Counseling

2. Some Export Promotion

3. Missions

Florida

Tom Slatery, Acting Director Florida Department of Commerce 401 Collins Bldg. Tallahassee, Fla. 32301 (904) 488-6124

Programs:

1. Missions

2. Education: Seminars and Counseling

3. Foreign Offices: London, Frankfurt

Georgia

James Steed Georgia Department of Industry and Trade Box 1776 Atlanta, Ga. 30301 (404) 656-3577

Programs:

1. Education, Literature, Business Visitations, Seminars, Counseling

2. Missions

3. Export Trading Company

4. Foreign Offices: Tokyo, Seoul, Brussels, Toronto

Hawaii

Kenneth Kwak Department of Business and Economic Development P.O. Box 2359 Honolulu, Hawaii 96804 (808) 548-3048

Programs:

1. Participate in Trade Fairs and Missions

2. Foreign Trade Zones

3. Local Business Assistance

Idaho

Ron Hershey Idaho Department of Commerce State House Boise, Idaho 83702 (708) 334-2470

Programs:

1. New plan as yet unapproved.

Illinois

Hendrik Woods Department of Commerce: International 100 West Randolph St. Chicago, Ill. 60601 (314) 917-7164

Programs:

1. Promotion

2. Missions

3. Export Trading Company

4. Foreign Offices: Brussels, Hong Kong, Osaka, Shenyang [China], Sao Paulo

Finance John Kerwitz Illinois Export Development Authority 100 Randolph St. Chicago, Ill. 60601 (312) 917-3401

1. Legislation Passed

2. Funding

3. Loans, Guarantees, Insurance

4. Maximum: $500,000

Indiana

Phil Grebe Indiana Department of Commerce One North Capital St., Suite 700 Indianapolis, Ind. 46204 (317) 232-8846

Programs:

1. Missions

2. Education: Counseling and Business Visitations

3. Foreign Offices: Tokyo, Amsterdam; Representatives in Republic of Korea and the People's Republic of China

Iowa

Mike Doyle Iowa Development Commission 200 Grand St. Des Moines, Iowa 50309 (515) 281-3581

Programs:

1. Trade Shows and Missions

2. Education

3. Foreign Offices: Frankfurt, Hong Kong, Tokyo

Kansas

Molly Kirk Department of Economic Development 503 Kansas Ave., Sixth Floor Topeka, Kan. 66603 (913) 296-4027

Programs:

1. Education

2. Trade Shows, Fairs, Missions

3. Foreign Offices: Tokyo, Stuttgart

Kentucky

Bill Savage Kentucky Commerce Cabinet Capital Plaza Tower, 24th Floor Frankfurt, Ken. 40601 (502) 564-2170

Programs:

1. Education: Seminars and Counseling

2. Missions

3. Foreign Offices: Tokyo, London

Louisiana

Stan Fulcher Office of International Trade, Finance, and Development Louisiana Department of Commerce P.O. Box 94185 Baton Rouge, La. 70112 (504) 342-5891

Programs:

1. Foreign Offices: Tokyo, South Hampton

2. Move into investment

3. Support outreach through World Trade Council

Finance: James Gil Louisiana Import-Export Trust Authority Box 4407 Baton Rouge, La. 70821 (504) 928-6800

1. Legislation Passed 1979

2. Funding: $150 million from taxable bonds

3. Direct Loans

4. Guarantees

Maine

Michael Naylor-Davis Maine World Trade 77 Sewell St. Augusta, Maine 04330 (207) 622-0234

Programs:

1. Full promotion

2. Missions

Finance: Karen Lazareth Maine Finance Authority P.O. Box 949 Augusta, Maine 04330 (207) 623-3263

1. Umbrella Policy

2. Insurance

3. SBA and Exim referrals

Maryland

Harold Zassenhaus Maryland Office of International Trade 401 East Pratt St. Baltimore, Md. 21202 (301) 333-4295

Programs:

1. Education: Seminars and Counseling

2. Missions

3. Foreign Offices: Tokyo, Brussels

Finance: Marie Torres Maryland Finance Authority 401 East Pratt St. Baltimore, Md. 21202 (301) 333-4262

1. Legislation Passed

2. Funding: $1 Million Appropriation

3. Umbrella Policy

4. Insurance up to $1 million

Massachusetts

Andrew Bagley Massachusetts Office of International Trade 100 Cambridge St. Boston, Mass. 02202

Programs:

1. Full Education

2. Missions

Michigan

Del Willis Michigan Department of Commerce Box 30017 Lansing, Mich. 48909 (517) 373-9709

Programs:

1. Education

2. Counseling

3. Foreign Offices: Brussels, Tokyo

Minnesota

Michael Olson Minnesota Trade Office 100 World Trade Center St. Paul, Minn. 55101 (612) 297-4222

Programs:

1. Education

2. Export Trading Company

3. Missions

4. Counseling

5. Foreign Offices: Oslo, Stockholm, liaison with London

Finance: Noor Doja/Devin Rice Minnesota Export Finance Authority 100 World Trade Center St. Paul, Minn. 55101 (612) 297-4659

1. Guarantee: Pre-Export $250,000

2. Umbrella

Mississippi

Bill McGinnis Department of Economic Development Box 849 Jackson, Miss. 38205 (601) 359-3444

Programs:

1. Education: Seminars and Counseling

2. Missions

Missouri

Glen Boos Missouri International Development Office P.O. Box 118 Jefferson City, Mo. 65102 (314) 751-4855

Programs:

1. Export Trading Company

2. Education

3. Trade Shows

4. Foreign Offices: Dusseldorf, Seoul, Tokyo

Montana

John Maloney Montana Department of Commerce State Capital Helena, Montana 59620 (406) 444-4380

Programs:

1. State Export Trading Company

2. Education: Seminars and Counseling

Nebraska

Susan Rouch Department of Economic Development Box 94666 Lincoln, Nebr. 68509 (402) 471-4668

Programs:

1. Trade Clearinghouse of Information

2. Referrals

Nevada

Julie Wilcox State Economic Development Commission 600 East Williams, Suite 203 Carson City, Nevada 89710 (702) 885-4325

Programs:

1. Export Trading Company

2. Education: Counseling

3. Foreign Office: Tokyo

New Hampshire

James Parks Department of Resources and Economic Development 105 Loudent Road Building Two Concord, N.H. 03301 (603) 271-2591

Programs:

1. Education

New Jersey

Ming Hsu Division of International Trade 744 Broad St. Newark, N.J. 07102 (201) 648-3518

Programs:

1. Education: Seminars and Counseling

2. Missions

3. Foreign Office: Japan

Finance: John Walsh Economic Development Authority 200 South Warren St. CN990 Trenton, N.J. 08625

1. Direct Loan: $100,000, one year 180 days

2. Guarantee Program: 90%, $600,000

New Mexico

Cheri Tillman Department of Economic Development & Tourism Montoya Building Santa Fe, N.M. 87503 (505) 827-0300

Programs:

1. Shows, Missions

2. Limited Counseling

New York

Christopher Finn New York Department of Commerce 230 Park Avenue New York, N.Y. 10169 (212) 309-0503

Programs:

1. Missions

2. Counseling

3. Market Research

4. Foreign Offices: London, Wiesbaden, Tokyo, Toronto, Montreal

North Carolina

Gordon McRoberts Director, International Marketing International Division Department of Commerce 430 North Salisbury St. Raleigh, N.C. 27611 (919) 733-7193

Programs:

1. Counseling

2. Education: Business Visitations

3. Trade Shows, Fairs, Missions

4. Foreign Offices: Dusseldorf, Liaison in Tokyo

North Dakota

Jack Minton International Trade Division Liberty Memorial Bldg. State Capital Grounds Bismarck, N.D. 58505 (701) 224-2810

Programs:

1. Export Trading Company

2. Education (limited)

3. Missions, Shows

Ohio

Cindy Cole Department of Economic Development 30 East Broad St. P.O. Box 1001 Columbus, Ohio 43266 (614) 466-2480

Programs:

1. Education

2. Missions, Shows

3. Foreign Offices: Brussels, Tokyo, Lagos

Oklahoma

J.C. Johnson Oklahoma International Export Services 402 North Lincoln Boulevard Oklahoma City, Okla. 73105 (405) 521-3501

Programs:

1. Education

2. Fairs, Missions

3. Foreign Offices: New Delhi, Hong Kong, Singapore, Japan, London

Oregon

Amy Galloway Oregon Department of Economic Development International Trade Division 1500 South-West First Ave., Suite 620 Portland, Ore. 97201 (503) 229-5625 or 1-800-452-7813

Programs:

1. Foreign Office: Tokyo

2. Export Trading Company

3. Education

4. Shows and Missions

Pennsylvania

Anthony Amorosi Pennsylvania Department of Commerce 489 Forum Bldg. Hershey, Pa. 17120 (717) 787-7190

Programs:

1. Education

2. Shows, Fairs, Promotion

3. Foreign Offices: Brussels, Frankfurt, Tokyo

Rhode Island

Gerry Lessuch Department of Economic Development 7 Jackson Walkway Providence, R.I. 02903 (401) 277-2601

Programs:

1. Limited Education

2. Shows, Missions

3. Foreign Office: Antwerp

South Carolina

Dr. James A. Kauhlman Associate Director International Business Development P.O. Box 927 Columbia, S.C. 29202 (803) 734-1400

Programs:

1. Education

2. Export Trading Company

3. Fairs, Seminars, Missions

4. Foreign Office: Brussels

South Dakota

Nancy Bradley Office of International Trade School of Business, University of South Dakota Vermillion, S.D. 57069 (605) 677-5287

Programs:

1. Promotion only

Tennessee

David Weber Economic and Community Development Rachel Jackson Bldg., Eighth Floor 320 Sixth Avenue North Nashville, Tenn. 37219-5308 (615) 741-5870

Programs:

1. Education

2. Missions, Fairs, Seminars

Texas

Roger Wallace International Trade Department Box 12728 Austin, Tex. 12728 (512) 472-5059

Programs:

1. Education: Counseling

2. Foreign Office: Mexico City

Utah

Greg Gullet International Business Economic and Industrial Development Division 6150 State Office Bldg. Salt Lake City, Utah 84114 (801) 533-5325

Programs:

1. Promotion

2. Foreign Office: Tokyo

Vermont

Graham Freeman Department of Economic Development Pavilion Office Bldg. Montpelier, Vt. 05602 (802) 828-3221

Programs:

1. Education

2. Trade Shows, Missions

3. Foreign Offices: Japan, Canada

Virginia

Ronald Renchard Department of Economic Development and International Trade 1000 Washington Bldg. Richmond, Va. 23219 (804) 786-3791

Programs:

1. Education

2. Trade Shows, Missions

3. Export Trading Company

4. Foreign Offices: Brussels, Tokyo, Hong Kong, Sao Paulo

Washington

Steve Odom Department of Commerce and Economic Development 312 First Avenue North Seattle, Wash. 89109 (206) 464-6282

Programs:

1. Promotion

2. Counseling

3. Export Assistance Center

4. Foreign Office: Tokyo

West Virginia

Steve Spence Governor's Office of Community and Industrial Development State Capital, Room B-517 Charleston, W. Va. 25305 (304) 348-0400

Programs:

1. Missions, Shows

2. Limited Education

Wisconsin

James Sindt International Division Department of Development 123 West Washington Ave. Madison, Wis. 53702 (608) 266-1018

Programs:

1. Education: Seminars

2. Literature

3. Foreign Offices: Frankfurt and Hong Kong

Wyoming

Peter Cunningham Department of Economic Planning Herscher Bldg., Third Floor Cheyenne, Wy. 82002 (307) 777-7285

Programs:

1. Some Trade Missions

Photo: Eximbank's financial guarantee facilitated Caterpillar Tractor Company's exports for construction of the Ataturk Dam in Turkey.

Photo: Eximbank Chairman and President John A. Bohn, Jr., left, talks with Los Angeles Mayor Tom Bradley, center, and James Miscoll of the Bank of America about a joint Eximbank-City of Los Angeles program to assist exporters.

COPYRIGHT 1987 U.S. Government Printing Office
COPYRIGHT 2004 Gale Group