Nearly a year ago, Drake Finance was featured in the Financial Times for its unique position as a resilient trade lender given new banking regulations.

While banks are making it tougher for small and medium-sized businesses to secure the financing they need to trade internationally, Drake keeps it simple.

We cautiously brave into the world of international trade finance because we believe in the people behind our portfolios. We recognize the importance of our small and medium-sized businesses being able to compete in the global market. Drake understands what this means not only for the American economy, but also for the hard-working people within the companies we finance. They would never be able to obtain traditional financing through banks.

But, why should they have to? Banks don’t understand or care for their business. Typically, small and medium-sized businesses’ transactions are under $1 million, which most banks won’t finance because these transactions are too small. Many of these companies, while profitable, do no meet the banks’ internal credit criteria. Frankly, these companies fare better with lenders like Drake because we’re small enough to care.

Read the article: http://www.ft.com/intl/cms/s/2/2c848b5e-bd48-11e0-89fb-00144feabdc0.html#axzz1usYoDM9p

The House of Representatives passed H.R. 2072, better known as the bill to Re-Authorize the Export-Import Bank of the United States.

Click on the following link to view the bill: http://docs.house.gov/billsthisweek/20120507/BILLS-112hr2072-SUS.pdf

Next, Senate will review the bill and cast its vote. The clock is ticking, however, as the charter expires May 31st. The Export-Import Bank of the U.S. supports American exporters in their efforts to reach new and important markets, and compete globally. The agency doesn’t cost taxpayers a penny. On the contrary, the Ex-Im Bank of the U.S. generates revenue for the U.S. Treasury and creates jobs for Americans. Last year, they helped create and sustain over 290,000 jobs in the U.S., while financing over $41 billion in U.S. exports.

Drake Finance proudly supports the re-authorization of the Export-Import Bank of the U.S. For more on how you can show your support, please check out our previous post; it shows you how to take action with just a few simple clicks of the mouse.

The Export-Import Bank of the United States is currently operating under an extension to its charter that expires on May 31, 2012. The clock is ticking and ultimately, it is Congress that will decide on the future of the Ex-Im Bank and American trade.

Its re-authorization means that U.S. exporters will have the means to export their goods and foreign buyers will have the means to buy American. Last year, Ex-Im Bank financed more than $40 billion in exports and helped to create more than 290,000 jobs in the process. Those jobs are in jeopardy until Ex-Im Bank’s re-authorization is secured.

Share your support for the re-authorization of Ex-Im Bank by following these simple steps:

• Find all of your elected officials here. This site makes it simple to write to your Representatives, Senators, even the President.
• Copy/Paste the sample letter below. Just remember to insert your name and theirs before you hit send.
• That’s it! It’s that simple.

Sample Letter:   Dear Congressman/Senator [Your elected official’s last name],

I am writing today to share my support for the long-term re-authorization of the Export-Import Bank of the U.S., as well as for increasing the agency’s lending authority. This agency provides critical support for American companies that create jobs through international trade. Ex-Im Bank is especially vital for Washington state, where in 2011 alone it lent more than $7 billion to 74 companies – including 56 small businesses.

Ex-Im Bank is also crucial to the ability of Washington state exporters to compete on a level international playing field, where competitors receive aggressive support from their own countries’ export credit agencies. Reauthorizing the Ex-Im Bank makes sense for the federal bottom line as well: the agency is self-sustaining, and in the five years since Congress last reauthorized the Bank’s operations, it has returned about $3.4 billion to the U.S. Treasury above and beyond the cost of its operations.

For all of these reasons, I strongly support reauthorizing the Export-Import Bank and increasing its lending authority, and I encourage your support as well.

Sincerely, [Your name]