ANNOUNCEMENT 25 Dec 2016

In December 2016, the Export-Import Bank of the United States (EXIM) provided a guarantee for a working capital loan given to Metal Exchange Corporation, Et. Al..

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

USAspending.gov. Award profile. Summary.
https://www.usaspending.gov/award/ASST_NON_08085663XAAA04_8300

EXIM Bank of the United States. Data. Authorizations From 10/01/2006 Thru 12/31/2020.
https://data.exim.gov/dataset/Authorizations-From-10-01-2006-Thru-12-31-2020/vbhv-d8am/
deal.number = 08085663XAAA04
unique_identifier = 08085663XAAA04

Export-Import Bank of the United States (EXIM), Financing Solutions, Working Capital Loan Guarantee. Available at:
https://www.exim.gov/what-we-do/working-capital

Inception date: 25 Dec 2016 | Removal date: open ended

Trade finance

On 25 December 2016, the Export-Import Bank of the United States (EXIM) granted a working capital guarantee to Metal Exchange Corporation, Et. Al. The bank guaranteed a USD 13.5 million loan facility. The support is linked to an export contract of products or services classified by EXIM in the category of 'Metal Service Centers and Other Metal Merchant Wholesalers'.

EXIMs working capital guarantee funding backs the loans from commercial lenders to U.S. businesses that export over the term of the loan. With this support, the government-owned corporation gives the commercial lender the confidence to provide funding to American businesses to produce US-made exports. Under the scheme, a US business applies to a commercial lender for a working capital loan to fulfil an international sale and EXIM guarantees the transaction minimising risks.

According to EXIM, its mission is to provide trade finance 'in cases where the private sector is unable or unwilling to provide financing or when such support is necessary to level the playing field due to financing provided by foreign governments to their exporters that compete with U.S. exporters'.

EXIM is the export credit agency of the United States that provides competitive financing to businesses to facilitate the export of U.S. goods and services to foreign buyers. EXIM provides direct loans, loan guarantees, export credit insurance, and guarantees of working capital loans to help businesses compete in foreign markets.

AFFECTED SECTORS

 
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AFFECTED PRODUCTS

 
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