ESTABLISHED SMALL- TO MEDIUM-SIZED COMPANIES IN GEORGIA THAT NEED CAPITAL TO MEET EXPORT ORDERS ARE ENCOURAGED TO JOIN MARIA HALEY, A MEMBER OF THE BOARD OF DIRECTORS OF THE EXPORT-IMPORT BANK IN WASHINGTON, D.C., AT A BRIEFING FROM 9:30 A.M. TO 10:15 A.M. TUESDAY, OCT. 15, IN ROOM 201 OF THE STATE DEPARTMENT OF AGRICULTURE DOWNTOWN.
MS. HALEY TOLD GLOBALFAX IN A TELEPHONE INTERVIEW LAST WEEK THAT SHE ALSO WOULD LIKE TO SEE GEORGIA BANKERS ATTEND THE BRIEFING TO DISCUSS A ONE-YEAR PILOT CO-GUARANTEE PROGRAM THAT BECOMES EFFECTIVE THIS WEEK.
AN OFFICIAL SIGNING CEREMONY WILL TAKE PLACE IN THE NORTH WING OF THE STATE CAPITOL AT 10:30 A.M. WHICH MS. HALEY WILL ATTEND WITH RANDY CARDOZA, COMMISSIONER OF THE GEORGIA DEPARTMENT OF INDUSTRY, TRADE AND TOURISM.
THE PROGRAM WILL GUARANTEE EXPORT LOANS UP TO $1 MILLION TO BE SHARED UNDER A FORMULA WHICH PROVIDES THAT THE EX-IM BANK ASSUME 45% OF THE RISK, THE STATE, 45% AND A LOCAL BANK THE REMAINING 10%.
MS. HALEY SAID GEORGIA WAS ONE OF SIX STATES THAT QUALIFIED FOR THE PROGRAM, PRIMARILY BECAUSE IT ALREADY HAD THE CAPACITY TO CONDUCT IN-DEPTH CREDIT ANALYSIS OF APPLICANTS. SHE ALSO SAID THAT 80% OF THE BANK’S LOANS ARE NOW MADE TO SMALL- TO MEDIUM-SIZED FIRMS.
FOR MORE INFORMATION, CALL JEAN PRASHER AT THE ATLANTA U.S. EXPORT ASSISTANCE CENTER AT (404) 657-1958.