Washington State Small Business Exports Grain Storage System to Cambodia Backed by EXIM Loan Guarantee
May 24, 2018
(Ex-Im Bank)
First EXIM term financing of U.S. exports to
the private sector in Cambodia
Washington, D.C. – SCAFCO Grain Systems Co.,
a small-business manufacturer of agricultural
equipment in Spokane, Washington, is benefiting
from buyer term financing from the
Export-Import Bank of the United States (EXIM)
to export a grain storage system to Cambodia.
The transaction is the first use of EXIM’s
term financing for a buyer in the private
sector in Cambodia. An EXIM guarantee is
backing an approximately $345,400 loan from
Atrafin LLC to Amru Rice (Cambodia) Co. Ltd., a
processor and distributor of organic rice. The
purchase of a 3,000-metric-ton storage system
from SCAFCO will increase Amru Rice’s
capacity to respond to both local and
international demand.
Although Amru Rice could access funding from
Cambodia’s government-owned bank, it was
unable to obtain term financing from local
commercial banks. EXIM’s guarantee enabled
the company to obtain credit on longer
repayment terms for the purchase from a U.S.
supplier.
“EXIM is pleased to support this financing in
the private sector in Cambodia. This
transaction represents an expansion of the use
of our products in this market and signals that
EXIM is open and willing to assist Cambodian
buyers seeking to buy American-produced goods
and services on longer repayment terms,” said
Ambassador Jeffrey D. Gerrish, EXIM’s acting
president and chairman of the Board of
Directors.
“We worked hard to win this sale. EXIM’s
support not only helped us to seal this deal
but also has generated new interest in U.S.
manufactured equipment in Cambodia. And
that’s good news for our employees in
Washington,” said SCAFCO Chief Executive
Officer Jim McDonald.
“Our initial underwriting assisted EXIM in
considering this transaction without a local
bank guarantee, and we applaud EXIM on this
first financing in the private sector,” said
Atrafin Chief Operating Officer Stephen Greene.
“We are pleased to be able to support
SCAFCO’s export sales and Amru Rice’s
expansion of its business.”
Atrafin LLC is a commercial lender established
in 2003 that has worked through EXIM’s master
guarantee agreement since 2006 to provide
financing for medium-sized foreign buyers
interested in purchasing U.S.-manufactured
equipment. Atrafin has financed U.S. exports
to buyers in Central and South America,
sub-Saharan Africa, and other emerging
markets.
SCAFCO Grain Systems Co. is a small business
that manufactures grain silos and other
agricultural processing and storage equipment.
The company has a staff of 60 employees at its
manufacturing facility in Spokane and exports
its products to more than 80 countries.
EXIM staff is working closely with the U.S.
embassy in Phnom Penh on an upcoming trade
mission in June to stimulate additional
purchases of U.S. agricultural equipment and
products.
Welcome to the Exporting Source
Your one-stop resource for finding help to export to new customers, to learn about government export programs, to join export-promoting trade missions, to sign up for trade conferences and training, and to link to other exporting services. Whether you're an old hand at exporting or just getting started, the Exporting Source provides a place to locate foreign customers, export financing and foreign investment assistance.