EXIM Approves $97.2 Million Working Capital Guarantee Facility to Support Embraer Executive Aircraft Exports Manufactured in Melbourne, Florida
August 13, 2021
(Ex-Im Bank)
Transaction Supports an Estimated 700 U.S. Jobs
in Business Aircraft Manufacturing and Supply
Chain
WASHINGTON – The Board of Directors of the
Export-Import Bank of the United States (EXIM)
yesterday unanimously approved a $97.2 million,
two-year revolving working capital loan
guarantee facility to support exports of
business jet aircraft manufactured by Embraer
Executive Aircraft, Inc. (EEA) in Melbourne,
Florida. EXIM’s working capital loan
guarantee is estimated to support approximately
$200 million of EEA’s executive aircraft
exports and 700 American aerospace jobs at the
company’s manufacturing facility in Melbourne
and at suppliers across the United States.
The transaction is a renewal of EXIM’s
working capital loan guarantee facility
approved in July 2020 and leverages EXIM’s
COVID-19 relief measures. These steps taken by
the EXIM Board of Directors in March 2020
continue to provide financing consistency and
reliability during this historic pandemic and
ensure that American jobs in the aircraft
industry and related supply chains remain
dependable.
COVID-19 pandemic-related travel restrictions
have prevented EEA’s foreign buyers from
traveling to the United States to take delivery
of their purchased aircraft and complete
payments, which has affected on EEA’s revenue
stream. The EXIM-backed revolving loan facility
will help EEA to meet its working capital needs
during the two-year term of the facility. EXIM
will have a first-priority security interest in
EEA’s inventory of executive aircraft.
The guaranteed lender is Apple Bank for Savings
in New York, New York. The financing was
arranged and is serviced by AirFinance Leasing,
LLC, in Virginia Beach, Virginia, which is an
EXIM Qualified Advisor that has originated and
serviced numerous EXIM-backed asset financings
over the past decade.
“This transaction demonstrates that EXIM can
step in to make a critical difference for U.S.
exporters and the workers that have been
adversely affected by the COVID-19 pandemic,”
said Acting President and Chairman James
Burrows. “The pandemic has affected the
liquidity of commercial lenders and their
ability to make new loans, which has, in turn,
hit the aircraft and aviation industries
particularly hard. EXIM’s support enables
these loan facilities to continue to support
America’s aerospace manufacturers and the
jobs that their exports create and sustain.”
Embraer Executive Aircraft, Inc., operates its
manufacturing facility on the north side of
Florida’s Melbourne International Airport and
has approximately 2,000 U.S. employees. The
company’s executive jet portfolio consists of
the entry-level Phenom 100EV, the light Phenom
300E, the midsize Praetor 500, and the
super-midsize Praetor 600. The fleet exceeds
1,400 aircraft in more than 70 countries.
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.

The Export Practitioner
Providing readers with expert reports on changes to U.S. export licensing rules, enforcement policies and regulations for defense and dual-use products and technology.

Washington Tariff & Trade Letter
Providing exclusive, behind-the-scenes news and analysis every week of U.S. trade policies, regulations and legislation, export controls, trade sanctions, and enforcement of antidumping and countervailing duty laws.

Mastering Deemed Exports
An invaluable video training tool that helps exporters, universities and research laboratories alert all employees to the potential fines and legal sanctions that can come from violating EAR and ITAR restrictions on giving certain foreign nationals access to controlled U.S. technology.