Tip:
Highlight text to annotate it
X
My name is Vernon Darko. I'm with EQUIPXP, LC. Uh, we have companies located in companies located in, uh, Houston, Texas. And the markets in which we service--it's, uh, it's in Africa, um, in Latin America where we've been--uh, just in the last year we've been exporting to that market. As far as the, uh, Export-Import Bank, uh, what that has actually helped us, uh, with is, is allow us to have--we've utilized the programs like the working capital program, uh, and also utilizing the, uh, uh, insurance program. And of course we utilize the medium term, uh, programs also. Uh, most of our competitors in Europe usually will, uh, offer some sort of, uh, uh, finance for the buyers by using some of their products there. And this has allowed us to be able to compete in, in--with those--some of those, uh, uh, companies that are servicing the regions of what we in. That has actually helped us to grow in the market. We've done, uh, several transactions with Ex-Im Bank in the medium term. Uh, one client, I think at one time we got him approved both short term and medium term for 30 million, I believe. So that's, that's--without the Ex-Im Bank program, that definitely would not have been possible for us to, to work on such transactions, uh, as a small business. In terms of sales, what allowed us, what pushed us to Ex-Im Bank was that majority of the transactions we were, we were doing were small transactions. And, and majority of the time the buyers didn't have the finances necessary to, to close the transaction. And the Ex-Im Bank program has allowed us now to, to close transactions. So people--customers come to us, uh, with wanting solutions for their programs--for their problems or solutions to, to buy from us. And the Ex-Im Bank programs has really enhanced what we do, uh, and, uh, and has helped our company a great deal. We started the company out and now off the back we had only two employees. And currently we have about ten employees because we've had the Ex-Im Bank programs. And we, we continue--so it looks like every year we have different transactions that we've been able to do with Export-Import Bank, and that is sustaining the, uh, the workforce for us.