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February 27, 2004
Contact: Phil Cogan, 202.565.3200
TEXAS SMALL BUSINESS RECEIVES FINAL COMMITMENT FOR
$5 MILLION WORKING CAPITAL LOAN GUARANTEE
WASHINGTON, DC --- An Irving, Texas small business today (February 27) secured a final commitment from the Export-Import Bank of the United States (Ex-Im Bank) for a 12-month, $5 million revolving working capital loan guarantee.
Delta Brands, Inc. (DBI) designs and manufactures metal processing equipment. DBI received a Preliminary Commitment from Ex-Im Bank two weeks ago (see Ex-Im Bank news release of Feb. 13, 2004). Bank staff finalized the commitment today after the company completed its financing package and application.
In addition to qualifying as a small business under Small Business Administration guidelines, DBI purchases sub-components from a variety of domestic suppliers that are, in many cases, also small businesses. Those suppliers are located throughout the United States, including the states of Illinois, Indiana, Florida, Michigan, Pennsylvania, Texas, and Wisconsin. The sub-suppliers employ an estimated 6,600 workers.
Ex-Im Bank this year marks its 70th year of helping finance the sale of U.S. exports, primarily to emerging markets throughout the world, by providing loan guarantees, export credit insurance, and direct loans. In fiscal year 2003, Ex-Im Bank, an independent federal agency, authorized financing to support $14.3 billion of U.S. exports worldwide. For more information on Ex-Im Bank visit http://www.exim.gov.
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