EXIM Bank offers financing for large-scale business projects

EXIM Bank, the official export credit agency of the United States (US), is offering medium- and long-term business financing solutions to Guyana for those interested in larger projects across all sectors.
The bank facilitated a webinar on Tuesday, in collaboration with AmCham Guyana, which provided insights into financing options such as loan guarantees, direct loans, buyer financing, capital for infrastructure development, equipment purchases, and expansion into new markets.
Alexander Tenney of EXIM’s Global Development team said the bank is open for business and excited to conduct business with Guyana, given the current development climate. He provided insight into the bank and its offerings.
“We are a senior debt provider… loan guarantees, where we’ll be guaranteeing an intermediary bank that would be providing the loan. This would protect lenders against non-payment and de-risk the transaction. We also have fixed-rate direct loans. So, if private sector financing is not available, we can step in and become the financier as well. This is something we can look into, though it’s less common. We also have structured finance and project finance capabilities, which are for larger transactions. We’re talking about amounts over US$100 million. That’s something we are able to do,” Tenney stated.
He added that other solutions include US-based exports, content, and flag shipping, and he provided useful insights into the necessary requirements for the private sector.
“For the private sector, it would be those audited financial statements. We look for three years of financial statements… that’s what we’ll be asking for in the early stages. Earlier in the process, you can do something called a letter of interest. Those can be issued pretty quickly, and once you get a letter of interest, if you’re looking for a US exporter for a particular project, it can help you line that up. That’s something we can do if you are interested in doing that. It’s not necessary, but it’s a good option that people do,” Tenney said.
He further noted that EXIM Bank offers insurance to US companies, which can cover up to 90 percent of the purchase.
Tenney re-emphasised that the bank is not restricted by sectors, and therefore, can provide solutions for any sector.
Support is available for both the private and public sectors in Guyana.