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Pefco open for business in 2010
27 November 2009
It may not be as well known as most banks but Private Exporting Funding Corporation is always there for Ex-Im customers and open for business in 2010. JoAnn DeLuna investigates a key aircraft lender.
Read more:
[Pefco]
[Ex-Im]
[JPMorgan Chase]
[Bank of America]
[Royal Bank of Scotland]
[Citibank]
[Natixis]
[General Electric]
[Untited Technologies]
Everyone knows the important role of the Export-Import Bank of the US (Ex-Im Bank) and its ability to guarantee aircraft loans. But surprisingly not everyone is familiar with the Private Exporting Funding Corporation (Pefco) a key partner of the export credit agency which can provide up to 100% financing on Ex-Im guaranteed loans.
New-York-based Pefco is a private finance firm created in 1970 assist in financing US Exports. It was initiated by the Bankers Association for Finance and Trade, the US treasury department and Ex-Im Bank to offer a broad range of short, medium and long term financing programs for exports.
One of Pefco’s senior vice presidents Richard Youtz says the Pefco team is “lean and mean” with 19 employees, including seven officers. It has a total of 30 shareholders composed of 22 commercial banks, six industrial companies and two financial services companies. JPMorgan Chase hold the most shares...
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