Success Stories
Exporter: Colmac Coil Manufacturing Co. (Colville)
- Service Provided: Payment Terms Advice
- Principal/Spokesman: Bruce Nelson
Exporter unsure of appropriate payment terms to quote for largest order in company history. EFACW suggested and scripted letter of credit terms accepted by UAE buyer; coached both exporter and their bank. A second, larger order is currently under review.
Exporter: Canyon Hydro (Deming)
- Service Provided: Cross-border Surety
- Principal/Spokesman: Brett Bauer
Exporter of hydropower generators needed to post surety bond in Canada as against orders in hand and strong prospects in public sector market. EFACW called in to take over search; identified and referred to specialist surety broker who provided necessary instruments.
Exporter: Kim Hotstart (Spokane)
- Service Provided: Letter of Credit Training
- Principal/Spokesman: Terry Judge
Facing increase in emerging market orders, exporter’s credit/finance and marketing staff needed to know how to use letters of credit. EFACW staff conducted half-day on-premise training for exporter staff as well as their bankers, providing custom handouts.
Exporter: Itron, Inc. (Spokane)
- Service Provided: Past Due Collection
- Principal/Spokesman: Jerry Reed
Mexican government power utility owed exporter seven-figure accumulation of open account shipment receivables; claimed difficulty securing budget funding. EFACW staff applied suasion to New York bank which was providing Ex-Im Bank-based finance to the Mexican name in the context of their representation of the credit as a successful tool to Ex-Im Bank conference audience. Past dues cleared within a few days.
Exporter: Sharpe Mixers (Seattle)
- Service Provided: Payment Terms
- Principal/Spokesman: Steve Drury
New-to-export manufacturer of industrial mixing machines commenced pursuit of sales opportunities in China. EFACW briefed credit and marketing staff on suggested terms; actual sales then concluded on letters of credit. Subsequent consultations provided on exports to South America.
Exporter: United Coatings (Spokane)
- Service Provided: Credit Insurance
- Principal/Spokesman: Steve Yucho
Manufacturer of industrial coatings had little appetite for increasing credit exposure but recognized need to offer terms to expand sales activity in emerging markets. EFACW sponsored Ex-Im Bank multibuyer policy application now in active use in those markets. EFACW also provided specific coaching for sales terms to Chinese buyers.
Exporter: Web Press (Kent)
- Service Provided: Working Capital/Buyer Finance
- Principal/Spokesman: Craig Mathison
Well-established exporter of newspaper printing equipment had lost credibility with commercial lender. EFACW formed team with SBA regional officer and another bank’s commercial lenders to secure working capital guarantee and create new credit line. Buyer financing arranged by EFACW has supported sales to Eastern Europe, Mexico and – recently – multiple orders from Nigeria.
Exporter: Seattle Safety (Kent)
- Service Provided: Working Capital
- Principal/Spokesman: Brian Coughren
New-to-export designer/manufacturer of safety testing equipment for automotive industry needed working capital to complete pay-on-delivery order from major Korean automaker. EFACW supported application for Ex-Im Bank payment insurance on the open account receivable and introduced Small Business Administration’s regional international officer who provided working capital loan guarantee from bank introduced by EFACW.