VIEWS: 46 PAGES: 3 CATEGORY: Business & Economics POSTED ON: 1/28/2011
In his 2010 State of the Union address, Pres Obama announced a goal of doubling US exports in the next five years. This ambitious goal, he noted, would support 2 million jobs if achieved. Both community banks and their small-business customers could play an indispensable role in fueling export growth. Community banks can help their small-business customers tap into fast-growing markets abroad. While banks can expect a learning curve with the export loan process, fundamentally, export loans require what all loans require: analysis of the borrower's business capabilities, credit monitoring and program knowledge. Managing operational and compliance risk depends on attention to detail. Expanding America's exports will happen only if many US small businesses receive the financial support to seek out new markets overseas for their goods and services.
o p e r a t i o n s LENDER LIFE Financing
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