Government export credit agency consolidates its commitment to WA business
In response to growing demands for services and assistance, the Export Finance and Insurance Corporation (EFIC) has announced its intention to provide WA companies with greater support.
The government export credit agency EFIC has renewed its commitment to Western Australian resource exporters by consolidating its physical presence in the state.
SME and Mid Market director Leela Hanson will be relocating to Perth and opening a permanent office to provide WA exporters with tailored financial assistance.
“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,” said Hanson.
“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,” she added.
As a specialist in trade finance, Hanson will be responsible for supporting Western Australian SMEs with finance and medium-term insurance solutions which allow them to expand. She will also continue to work closely with Austrade to help export businesses.
Hanson says EFIC’s role in assisting Western Australian SMEs extends beyond the resource sector, to 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.”