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The U.S. Department of Commerce's International TradeAdministration has announced the availability of a dynamic new free interactive website exporters can use that allows them to quickly find financial firms that finance sales to overseas buyers.
This service, the Export Finance Matchmaker (EFM), contains the most comprehensive database of banks and other export finance service providers that offer a direct link to export financing needs. The program also facilitates the tedious task financial firms face in locating new customers. By opening the door to a variety of export financing options offered by a diverse group of export finance firms from coast to coast, EFM provides U.S. businesses with a marketing tool to succeed in competitive international markets.
EFM was developed by the Office of Finance, which is a part of the International Trade Administration's Trade Development Unit. The program supports both the Department of Commerce's goal to be truly an e Commerce Department, as well as the International Trade Administration's mission to help U.S. companies sell products and services abroad including pre-export working capital, direct loans to foreign buyers, export factoring, documentary credit products, export credit insurance, and various other miscellaneous financial services.
Export financing firms define their target
customer. Such firms know what they are looking for in terms of attracting exporters that are right for their risk appetite and fit their overall business strategy. On the other hand, the exporting business community knows its business and the direction in which it wants to go. EFM brings the parties to the table. EFM brings everyone one step closer to successfully completing an export transaction and at a faster pace than otherwise attainable.
EFM is quick and user friendly. Exporters simply fill out the on-line form providing information about a proposed export and sit back and watch EFM match their business to an export financing firm. The more thorough the exporter is in completing the form, the more precise is the match. Once EFM has matched an exporter to one or more export financing firms, the exporter can contact the export financing firm via e-mail though EFM. In the event no match is made, EFM suggests that the exporter modify its search and try again.
In addition to the matching function, the EFM website also contains practical references to other relevant government websites.
For more information long on to www.ita.doc.gov/td/efm. Or contact the Office of Finance, U.S. Department of Commerce, International Trade Administration by phone at 202-482-3277.
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