WTC of Greater Phila. to Work with Ex-Im Bank of US

by KYW’s Steve Tawa

The World Trade Center of Greater Philadelphia has signed an agreement with the Export-Import Bank of the United States, to help small businesses getting financing to send their local products to other countries.

In order to prosper locally, companies need to grow US exports, says Mayor Nutter:

“The agreement is all about jobs and economic opportunity.”

Linda Conlin, president of the World Trade Center of Greater Philadelphia, says the agency hit the ground running in 2002, when it came to the area, helping companies expand into international markets:

“We've helped companies to generate some $400 million in incremental exports.”

Karl Brown is president of a Lansdale, Pa.-based snack food concern that is a manufacturer, exporter, and distributor to 59 different countries:

“Overseas, in order to expand the business, you need to offer extended payment terms.”

So he needs access to credit to ship three to four ocean containers a day to different places in the world:

“A lot of our volume is low dollar based -- pretzels... and marshmallows is another major thing we export.'

Ex-Import Bank, an agency of the US government, helps small businesses get working capital to expand in markets overseas.

(Photo by KYW’s Steve Tawa)