Ex-Im Bank Sets Goal of $2 Billion in Financing of U.S.-Manufactured Business Aircraft and Helicopters in 2014
May 21, 2014
(Ex-Im Bank)
Bank Expects To Achieve New Goal by Year’s End
Washington, D.C. – Today the Export-Import Bank
of the United States (Ex-Im Bank) announced a
new goal of $2 billion in financing for
U.S.-manufactured business aircraft and
helicopters by the end of 2014.
The Bank reached its previously announced goal
of $1 billion in support of these exports in
December 2013, 10 months ahead of schedule.
In FY 2014 to date, Ex-Im Bank has authorized
approximately $740 million for exports of
business aircraft and helicopters made in the
United States by companies that include
Gulfstream Aerospace Corp. based in Savannah,
Ga., Beechcraft based Wichita, Kan., and
Sikorsky Aircraft Corp., which manufactures
nonmilitary helicopters in Coatesville, Pa.
Ex-Im Bank's financing also supports sales and
jobs of U.S. small businesses in the supply
chains of these manufacturers.
"Ex-Im Bank has exceeded its goal to increase
export financing of U.S.-made business aircraft
and helicopters to $1 billion by 2014, and we
expect to double that amount by the end of the
calendar year. The Bank's support is enabling
these manufacturers and their workers to create
American jobs and meet the growing global
demand for their excellent products,
particularly in markets where other sources of
buyer financing are not readily available,"
said Ex-Im Bank Chairman and President Fred P.
Hochberg.
Ex-Im Bank topped its previous goal in December
2013 with the guarantee of a $300 million loan
extended by Apple Bank for Savings to Minsheng
Financial Leasing Company Ltd. of Tianjin,
China, that is financing the purchase of a
fleet of eight aircraft manufactured by
Gulfstream.
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