SBA Recognizes Export Lenders BB&T, First American Bank and World Trade Finance Inc.
April 5, 2017
(SBA)
The U.S. Small Business Administration today
honored BB&T and First American Bank as the
2017 SBA Export Lenders of the Year,
respectively for large and small lending
institutions during a ceremony at the 10th
annual SBA Export Lender Roundtable in
Washington, D.C. During the event, World Trade
Finance Inc. was recognized as SBA's Export
Working Capital Champion, for providing
international trade financing to small
businesses since 1997.
BB&T Senior Vice President William
Browning, and First American Bank Vice
President Alan Lane-Murcia received the awards
on behalf of their respective institutions.
World Trade Finance founder and former
President Bernd Hermann, and
co-founder/Managing Director Irene Kuo received
the Export Working Capital Champion award.
"American small business exporters need capital
to access overseas markets, fund their export
sales, and expand local operations. BB&T,
First American Bank and World Trade Finance
have been invaluable partners toward this end,"
SBA Administrator Linda McMahon said. "I want
to congratulate and thank these lenders for
helping small business exporters expand, create
high-wage jobs for American workers and advance
small business innovation."
U.S. exports are important to the nation's
economy, and 98 percent of all exporters are
small businesses. SBA export lenders play a
pivotal role in helping small business
exporters to compete and succeed in the global
market. During fiscal year 2016, the SBA
reported a record $1.53 billion in financing to
small business exporters.
Based in Winston-Salem, North Carolina,
BB&T is one of the largest financial
services holding companies in the United
States., operating 2,196 financial centers in
15 states and Washington, D.C. In fiscal year
2016, BB&T made a strong commitment to
ensure that its small business exporters had
access to financing. As a result, BB&T
recorded remarkable growth in SBA export
financing, moving from $7 million of Export
Working Capital Loans in fiscal year 2015 to
$30.6 million in fiscal year 2016.
First American Bank is an Illinois-chartered,
privately-held, full-service bank with 50
locations in Illinois and Florida, and more
than $3.4 billion in assets. First American
uses all three of the SBA's core export loans,
which has resulted in a significant increase in
their support for small business exporters in
fiscal year 2016, going from $8.9 million in
fiscal year 2015 to $13.2 million in fiscal
year 2016.
World Trade Finance, Inc., is a
California-chartered, privately-held lender
that is now a subsidiary of ExWorks Capital,
LLC, with offices located nationwide. Since
1990, World Trade Finance has delivered
boutique trade finance solutions to underserved
U.S. exporters and qualified international
buyers, providing more than $250 million of
financing to small businesses and supporting
over $750 million of U.S. exports. An early
champion of the SBA's Export Working Capital
Loan program, World Trade Finance since 1997
has made 162 of these loans for a total of $116
million, which supported more than $300 million
in exports.
The SBA Export Lenders Roundtable is an annual
event sponsored by the SBA's Office of
International Trade. At this event, lenders,
trade financiers and trade industry
professionals have an opportunity to meet and
learn about the SBA's International Trade
Finance Programs, which are designed to help
small businesses develop new markets, finance
export transactions, and expand production
capacity to meet overseas demand.
For more information about the SBA's export
lending programs, visit www.sba.gov/international.
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