AEA launches new high tech export financing program.SANTA CLARA, Calif.--(BUSINESS WIRE)--Feb. 6, 1995--A new program aimed at providing export working capital for small and medium-size U.S. high technology companies has been established by the American Electronics Association The American Electronics Association (now known as AeA) is a nationwide non-profit trade association that represents all segments of the technology industry in the United States. (AEA AEA Atomic Energy Authority AEA n abbr (BRIT) (= Atomic Energy Authority) → consejo de energía nuclear; (BRIT) (SCOL) (= Advanced Extension Award) → ) and Ecoban Finance LTD LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability , a New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of City-based institution specializing in financing international transactions. AEA member company Industrial Technologies Inc. (INTEC INTEC Information Technology (Ghent University department) INTEC Institut National des Techniques Économiques et Comptables (National Technical Institute for Business and Accounting; Paris, France) ) of Trumbull, Conn., will be the first participant in the program. The fund will make export loans in the range of $250,000 to $1 million to U.S. technology companies that need financing for their international ventures. The loans would be guaranteed by the Export-Import Bank of the United States Export-Import Bank of the United States (Ex-Im Bank) One of the principal U.S. government agencies in international finance. Originally incorporated as the Export-Import Bank of Washington in 1934, its goal is to help finance U.S. (Eximbank). "Exporting is the lifeblood of success in today's global marketplace -- particularly for small to medium size firms," said William T. Archey, AEA's President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "This program will fill a critical need for the high tech company that wants to sell their products abroad but has often faced difficulty in getting the necessary financing." In a ceremony last Thursday in Washington, Export-Import Bank President and Chairman Kenneth D. Brody said the fund will be the first program targeting a specific industry to use the Ex-Im's 12-year-old Working Capital Guarantee Program (WCGP WCGP Working Capital Guarantee Program ). "This Ex-Im Bank/AEA initiative is exactly the type of public/private sector partnership that this country needs to help American business compete in the global marketplace," Brody stated. "AEA should be commended for its innovation and leadership with this program. Giving a boost to small and medium-size businesses that are world leaders in technology is what we're all about. We are looking for enlightened partners like AEA that recognize that exports mean U.S. economic growth and high-paying jobs." Since its inception, the Working Capital Guarantee Program has supported approximately $1.2 billion of authorizations. To participate in the AEA/Ecoban program, please call Peter Spielberger at Ecoban Finance LTD, 212/805-8305. The 3,000-member American Electronics Association is the largest technology trade group in the United States. Membership spans from telecommunications and systems integration companies to software and semiconductor firms. For more than 50 years, AEA has been the accepted voice of the U.S. electronics and information technology industry. CONTACT: American Electronics Association Ramona Gann, 202/682-4443 John Hatch, 408/987-4232 Ex-Im Niki Shepperd, 202/565-3200 |
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