This New York based trading company was founded in 2004 as a parts supplier to various countries in the Middle East. After winning the 2012 U.S. Small Business Administration’s (SBA) Small Business Exporter of the Year Award for Region II, the company faced a termination of their working capital facility due to a change in the market conditions. ExWorks Capital stepped in to provide direct financing for its supply contracts through the transition period. The company will continue its success in supplying the rehabilitation of power plants and oil fields throughout Iraq as well as a number of partners to help foster the development of the Iraqi market.
“This agreement represents a significant step forward in assisting U.S. exporters to do business in Iraq and other difficult markets. The current facility should allow the company to rapidly increase its volume of exports and quicken its transition to a lower-cost working capital line.” Brady Edholm, Vice President of ExWorks Capital.
About ExWorks Capital:
ExWorks Capital is an international trade finance company that offers export financing solutions to U.S. exporters by leveraging its Delegated Authority granted by ExIm Bank. ExWorks Capital’s offerings include:
- Working Capital Financing – International Trade Receivable and Inventory Revolvers, including advancing on Raw Materials, WIP and Finished Goods, between $1,000,000 and $10,000,000
- Term Loan Financing – Term Loans between $10,000,000 and $100,000,000 to Foreign Customers
- Export Trading – Negotiating the buy and/or sell side of a transaction and processing all of the associated documentation from the acquisition of the export to its shipment and delivery to an international customer thus eliminating trade risk to the supplier between $500,000 and $10,000,000