WASHINGTON, May 4, 2015 /PRNewswire/ — ExWorks Capital today announced the acquisition of World Trade Finance, Inc. (“World Trade”) of Burbank, California, a 25-year-old specialty lender active in both the U.S. Export-Import Bank (“ExIm”) and Small Business Administration (“SBA”) financing programs. ExWorks Capital is an active ExIm guaranteed lender with “High” Level Delegated Authority, which allows ExWorks to underwrite transactions efficiently without agency delays. By acquiring World Trade, ExWorks Capital now has ability to extend SBA export working guaranteed loans up to $5 million, and allows it to be more flexible with goods sources from both the U.S. and overseas as well as military related products.

“The acquisition of World Trade Finance is another milestone for ExWorks Capital. We are taking additional steps to create the premier export finance company in the U.S. with a focus on small to medium sized exporters. Our seasoned team of officers welcomes the management of World Trade, which together makes us uniquely qualified to provide international finance solutions to our customers,” said Alan Beard, Managing Director at ExWorks Capital.

In parallel, ExWorks Capital has also closed on one of the largest credit accommodations from California Bank & Trust to support the expected increase in funding World Trade will need as it grows its current loan portfolio beyond the West Coast. World Trade had been a longstanding customer of CB&T, which complemented the institutions own international capabilities.

World Trade has a well-deserved reputation in California. As one of the heaviest users of SBA’s export working capital guarantee loan program, it has the highest delegated authority of that agency. Bernd Hermann and Irene Kuo founded the company almost 25 years ago and have successfully supported almost $1 billion of U.S. exports. Mr. Hermann said: “We are pleased to transition from a regional lender to provide our unique capabilities to customers across the U.S. With additional capital and an experienced management team, this partnership will be a real asset in the export community.”

About ExWorks Capital:
ExWorks Capital (www.exworkscapital.com) is an international trade finance company offering export financing solutions to U.S. exporters by leveraging its Delegated Authority granted by ExIm Bank. ExWorks Capital’s offerings include:

Working Capital Financing – International Trade Receivable and Inventory Revolvers, including advancing on Raw Materials, WIP and Finished Goods, between $1,000,000 and $10,000,000
Term Loan Financing – Term Loans between $10,000,000 and $100,000,000 to Foreign Customers
Export Trading – Negotiating the buy and/or sell side of a transaction and processing all of the associated documentation from the acquisition of the export to its shipment and delivery to an international customer thus eliminating trade risk to the supplier between $500,000 and $10,000,000

About World Trade:
World Trade (www.worldtradefinanceinc.com) is a California-based commercial finance company that specializes in making government guaranteed export working capital loans. Its management and personnel has over 25 years of experience in providing working capital loans backed by state and federal government guarantee programs.

Logo – http://photos.prnewswire.com/prnh/20150430/213130LOGO

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/exworks-capital-announces-acquisition-of-world-trade-finance-inc-300075996.html

SOURCE ExWorks Capital