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Thursday, May 22, 2014

U.S. Ex-Im Bank Sets $2 Billion Financing Goal

Source: U.S. Ex-Im Bank

The Export-Import Bank of the United States (Ex-Im Bank) has revealed its new goal of $2 billion in financing for U.S.-manufactured business aircraft and helicopters by the end of 2014.‚Ä®The Bank reached its previous goal of $1 billion in support of these exports in December 2013, 10 months ahead of schedule.‚Ä® In FY 2014 to date, Ex-Im Bank has authorized approximately $740 million for exports of business aircraft and helicopters made in the U.S. by companies that include Gulfstream Aerospace Corp. based in Savannah, Ga., Beechcraft based Wichita, Kan., and Sikorsky Aircraft Corp., which manufactures nonmilitary helicopters in Coatesville, Pa. Ex-Im Bank’s financing also supports sales and jobs of U.S. small businesses in the supply chains of these manufacturers. Ex-Im Bank topped its previous goal in December 2013 with the guarantee of a $300 million loan extended by Apple Bank for Savings to Minsheng Financial Leasing Company Ltd. of Tianjin, China, that is financing the purchase of a fleet of eight aircraft manufactured by Gulfstream.

Related: Finance News

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