In a move to take its export financing services beyond Boeing, the Export-Import Bank of the United States is opening a branch banking operation in Seattle.
The new branch is aimed at giving small and medium businesses access to Ex-Im Bank financing for exported products. Washington businesses are already the largest recipient of Ex-Im Bank financing in the country. The vast majority of that financing goes to foreign airlines buying Boeing jetliners.
The new branch opening was announced by Sen. Maria Cantwell and Ex-Im Bank Chairman Fred P. Hochberg. The Seattle Ex-Im branch is one of four branches the bank is opening this year. Two have already opened in Minneapolis and Atlanta. A fourth will open soon in Detroit.
The center will provide enhanced access to the Bank’s products and services, and it will assist local businesses in obtaining export financing to grow foreign sales.
John Brislin will serve as the bank’s Seattle regional director. The new office will be located in the U.S. Export Finance Assistance Center at 2001 6th Ave., suite 2600. Potential exporters may call 206-728-2264 for more information.
Ex-Im Bank is an independent federal agency that helps create and maintain U.S. jobs by filling gaps in private export financing. In the past five years, Ex-Im Bank has earned for U.S. taxpayers $1.9 billion above the cost of operations, the bank said.
The bank provides a variety of financing mechanisms, including working capital guarantees, export-credit insurance and financing to help foreign buyers purchase U.S. goods and services.