EFIC media release - 23 May 2012
Government Export Credit Agency announces increased focus in support of Western Australian business
Australia’s Export Credit Agency, the Export Finance and Insurance Corporation (EFIC) has announced renewed support for WA business in response to increased demand for its services and to better assist WA companies.
EFIC provides tailored finance solutions to help Australian businesses overcome the financial barriers they face when expanding their export activities.
Leela Hanson, Director, SME and Mid Market will build on the work she has undertaken with a range of leading WA firms over the past three years by relocating to Perth full time, and opening a permanent office there.
Ms Hanson is a specialist in trade finance and brings over two decades of experience to her new role. She will be responsible for supporting growing Australian SME businesses in Western Australia with innovative finance and medium-term insurance solutions which allow them, in partnership with their banks, to win contracts and grow their business. In her role, she will continue to work closely with Austrade to help export businesses.
“EFIC has been a supporter of Western Australia's exporters for over five decades and this new presence is a mark of our commitment to helping more WA companies succeed in exports and overseas investment,” Ms Hanson said.
“Establishing an office in Perth will ensure we are on the ground and ready to assist WA companies including those with exposure to the mining boom. Our physical presence provides local companies with access to a wider range of financial options.”
Ms Hanson said: “Western Australian businesses have been among Australia's most dynamic and successful exporters, including Austal, Equinox and NGIS Australia, and the resource companies who are shaping the future of Australia's economy.”
Ms Hanson added that EFIC has an important role to play in Western Australia, especially with SMEs, that can face financial hurdles when gaining financing from a bank.
“Our role in assisting SMEs encompasses much more than just the resources sector - we also help other sectors such as agriculture and services companies.
“Supporting WA subcontractors for major resource projects will be a key focus for us. For example, a company might have the technical capability to perform a role in a project, but as the number of opportunities increase, bank funding may get stretched and can restrict the number of subcontracting opportunities a company can participate in.
“This is where EFIC can step in. Our involvement may provide the needed support for a bank to enter a transaction.”
For more information on EFIC and their renewed presence in WA please visit the EFIC website.
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