AMEX Export Import, the original Broad Street Capital Group member, announces a $20 million contract with SR Group of Bangladesh

Fi3E Badge(October 31st, 2017, New York City, NY)  AMEX Export Import, the original member of the Broad Street Capital Group, announced today that it has signed a $20 million contract to provide Supply and Export Management Services to the SR Chemical Group of Bangladesh for delivery of a 30,000 ton per year, caustic soda production facility, as well as of two more facilities for derivative product manufacturing.

Over the next eight to ten months, AMEX will work with suppliers from the US and China to oversee and manage design, production, deliveries, as well as provide trade finance services for a state-state-of-the-art chemical production facility to be constructed in Bangladesh.  International Process Plants and Equipment Corp. of Princeton Junction, NJ (www.ippe.com) has been selected as the primary equipment supplier.

“SR Chemical Group is proud to bring the latest technology in caustic soda production to Bangladesh. The new facility will create over 500 jobs and will provide significant economic impact to the area surrounding plant’s location.” stated Mr. Asif Rabbani the Group’s Chairman.  ” We are very pleased to work with AMEX and its international suppliers who were chosen based on their proven international track record, experience with plant construction, proprietary technology and competitive pricing” added Mr. Rabbani

IPPE is delighted to serve as main supply contractors for the proposed main production facility.  SR Group and AMEX will benefit from IPPE’s forty plus years of global experience supplying chemical process plants. Our company’s presence and relationships in China will allow for cost effective and timely delivery of the equipment to the end-user” said Ross Gale, Vice President of Business Development of  IPPE

“We are honored to be part of this important multi-national project” stated Alexander M. Gordin, managing director of Broad Street Capital Group and Chairman of AMEX Export Import. “While the Project is highly complex from the trade finance, project management and logistic’s perspectives, this assignment fits squarely into the Develop, Finance, Supply and Insure framework, which serves as the foundation of the Broad Street Capital Group’s mission” added Mr. Gordin

About SR Group

SR Group (www.srgroup-bd.com) is one of the biggest & leading conglomerates of Bangladesh since 1978. SR Group’s ambitious business expansion is designed and driven by a visionary yet very humble person Mr, GM Siraj. He is not only a far-sighted entrepreneur, but also known for his patriotism. His philanthropy, honesty, sincerity and dedication fetched the group to today’s lofty achievements.The history of SR Group dates back to 38 years ago when it was founded. Now, the group is running 17 units of Telecom, Transport, Logistic, Restaurant, Garment Accessories, Food Processing, FMCG, CNG Processing, Chemical, Information Technology, Mobile Finance successfully.The company’s employee strength has been steadily increasing from the start. Current employee strength is 5000+.

About AMEX Export Import  IncWP_20130620_022

Since 1988 AMEX (www.amexexim.com) has been a reliable partner in countless export-import and export management transactions in over 40 countries. Part of the Broad Street Capital Group, AMEX, as exporter of record, provides complete export finance, shipping and A/R insurance solutions.  AMEX professionals are renowned for structuring complex multi-party, multinational export management transactions.

About IPPE

International Process Plants and Equipment Corp. engages in buying and selling new, used and surplus process plants and equipment, as well as industrial real estate properties. The company focuses on buying and selling assets in the chemical, petrochemical, pharmaceutical, refining, paper, plastic, and power generation industries worldwide. It sells process plants/power plants; industrial real estate; and process equipment, including surplus, new/unused, rebuilt, re-glassed, and used/second hand equipment. The company was founded in 1976 and is based in Princeton Junction, New Jersey with operations in the United Kingdom, Czech Republic, and India.

About the Broad Street Capital Group

Based in the heart of New York City’s financial district, Broad Street Capital Group (www.broadstreetcap.com) is an international private merchant bank, which since 1988 has served several foreign governments, multiple state-owned companies, as well as SMEs in emerging markets. Through its member companies, the Group focuses on arranging project financing in the $50-500 million range, providing political risk mitigation, export management services and cross-border market development advisory. The Group has done business  in over 35 countries spanning the emerging markets landscape from Bangladesh to Ukraine.

The  firm works closely with all trade and development agencies of the U.S. Government and Export Credit Agencies of several European and North American countries. Since its inception, Broad Street Capital Group has been involved in multiple high-profile cross-border transactions in IT/telecom, aerospace, healthcare,  energy generation, food security, nuclear safety, hospitality and franchising sectors. The firm’s current advisory and export management portfolio exceeds $630 million.  For more information, please visit contact Rustem Tursynov at info@broadstreetcap.com,

or call + 1 929 290 0040BroadStreetCapitalGroupServices_Page_1

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Nuclear waste with an OPIC wrap

  TXF PREMIUM

An Opic-wrapped Energoatom nuclear waste storage facility project bond is nearing launch. The enhanced bond will be structured around Ukrainian risk, nuclear risk, and the vagaries of the arbitration process.

A $250 million enhanced bond financing for Ukrainian nuclear operator Energoatom is likely to come to market in November this year. The bonds, for which Bank of America is placement agent, would carry breach of contract insurance from the United States’ Overseas Private Investment Corporation (Opic), and fund construction of the Energoatom Central Spent Nuclear Fuel Storage Facility near Chernobyl.

Opic is wrapping the debt in large part because a US manufacturer, Holtec International, is supplying the facility with 94 double-walled stainless steel casks and related equipment. Broad Street Capital, a New York-based advisory firm, is financial adviser and what it describes as “financial developer” for the project.

The financing would be designed to isolate investors from Ukrainian risk and Opic from nuclear risk. The Opic insurance would protect investors against breach of contract under a loan agreement between the issuer of the bonds and Energoatom as borrower.

The loan agreement would mirror the 20-year maturity on the bonds and be a corporate obligation of Energoatom, with a sovereign backstop from the government of Ukraine. The issuer would be a trust without any shareholders, and Energoatom’s obligation to repay the loan to the issuer would not be related to Holtec’s performance under the supply contract.

The bond financing is likely to require some liquidity enhancement, because the breach of contract payment would be subject to receipt of an arbitration judgement. This process, however, would be structured as “baseball” or pendulum arbitration, where the arbitrator would pick between two proposals provided by each party to encourage them to reach a reasonable settlement. Since the process can lead to very binary awards, it is considered to be faster than processes in which the arbitrator puts together a settlement themselves.

The Opic insurance benefits from government-to-government understandings between the US and Ukraine, but because of the potential for delays is likely to carry a rating of closer to the single-A band, than the double/triple-A rating that the US government, and by extension Opic, carries.

Moreover, the placement agent will have to reassure investors about a project in a country suffering from severe economic and political difficulties, and in an industry whose risks are typically considered too great for private investors. The new plant is even located at the site of the world’s worst nuclear disaster, the 1986 meltdown of a Ukrainian reactor.

The supplier and customer have been negotiating the contracts to supply the facility for over 12 years, as Ukraine tries to lessen its nuclear industry’s dependence on Russia. Until recently, Russia is believed to have charged around $100 million per year for reprocessing services, and in the light of the occupation of parts of Ukraine by Russian and pro-Russian forces, Russia is no longer accepting nuclear waste from Ukraine.

The $300 million first phase of the project would be followed by additional phases up to a total project cost of around $1.5 billion, though Energoatom has not taken financing decisions for these later phases. The project would eventually be capable of storing waste from Ukraine’s entire nuclear generating fleet, with the exception of Zaporozhe, which has its own storage facilities.

ExportBOOST Helps US Companies Double Their Exports

By: Alexander Gordin

Fi3E BadgeInternational trade is thought to have its routes in 19th century BC with Assyrian merchants. Over centuries the business of exports changed dramatically with evolution in transport modes, advent of Incoterms, standardized shipping containers and computerized customs clearance.

Yet for all the progress and record $2.3 trillion amount, exports in the US still remain a complex and not terribly efficient process. Multiple players involved in exports are still largely silo(ed). Even at large companies export related functions like international sales, legal, shipping, banking, financing and insurance often have difficulty communicating with one another. Concepts such as international payment protection mechanisms, US content policy, or US flag shipping requirements are often misunderstood. Generally business approach to managing export transactions is reactive, rather than proactive. Situation is even more difficult in small and mid-size businesses where resources are significantly more scant. A relatively small percentage of businesses export. Of those that do, a large portion exports to only one country. Expanded exports of goods and services represent amazing possibilities not only to help companies grow their profits and shareholder returns, but also to benefit our nation’s economy by creating new jobs and generating additional tax revenues. President Obama’s National Export Initiative has served as a catalyst to spur job growth and along with general economic recovery led to a resurgence of manufacturing activity. More needs to be done, and companies should focus on exports as a fundamental part of their business activities, rather than an afterthought.

The entire export ecosystem is ripe for disruption and entry into the technological age. I can envision a day in the very near future when shipping containers of foodstuffs, plane loads of licensed computer equipment, dozens of Ro Ro tractors, or construction cranes will be as simple as buying individual items on eBay or Amazon. Of course handling export transactions is infinitely more complex and requires signed multilingual contracts, letters of credit, export credit and freight insurance, licensing, quality inspections and complex shipping arrangements. Thus the disruption process that is being put in place needs to account for the nuanced complexity that characterizes exports. Step one of the transformation is already on the way.

ExportBoost™ – a  curated service guaranteed to help small and mid-size companies to at least double their present exports in 18 months – was recently unveiled

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by the Broad Street Capital Group (“BSCG”) . Specifically developed for US manufacturers and distributors with revenues of between $5 and $750 million and for providers of professional services , ExportBoost™ uses proprietary export building met

hodology and tools such as: Fi3E™ Export Indices, XPORTINSURE™, FinanceABLE™ and EZShip™ to greatly simplify export operations and mitigate international business risks.

ExportBoost™ was designed to help small and medium companies who are either experienced exporters, or just looking to start their international expansion to significantly grow their exports. ExportBoost™ service has two tiers – one where the exporter is guided by the Broad Street Capital’s professionals and implements the program internally and the second where Broad Street Capital Group implements ExportBoost™ on its client’s behalf. In either case, the clients will be offered a unique guarantee, should they follow the program and their exports do not at least double in 18 months, Broad Street Capital Group will refund all the fees paid by the clients for the ExportBoost™ service.

ExportBoost™ is part of the product portfolio being developed by the Broad Street Capital Group, and its partners. to greatly streamline and finance international trading operations. The project code named “Barbell” is scheduled to be unveiled at the Broad Street’s annual conference later this year.

Broad Street Capital Group to Advise on $75 million financing for the Tier III Data Center Project

(London, UK – June 24, 2016) On this historic day of the “Brexit” referendum, Broad  Street Capital Group announced that it has been appointed as the exclusive financial adviser for for financing of a state-of-the-art data center in the Baltic States.  The proposed $100 million project, called AmberCore DC, will launch in 2017 and will be financed through a combination of owner and investor equity, coupled with senior debt to be provided by the UK Export Finance (UKEF). Lithuania_Page_1

CBRE of London and PACT Consulting Inc., based in Bethesda, Md., have been selected as the data center’s marketing consultants and will be responsible for introducing anchor clients to the project.

“We are delighted to serve as the financiers for this  project,” stated Alexander M. Gordin, Managing Director of Broad Street Capital Group. “With the worldwide explosion of cloud computing services, significant demand exists for quality data hosting facilities in emerging markets. Not only does the proposed project enjoy a strategic location and terrific connectivity, but it is also being developed by an experienced, highly reputable teleport operator and satellite services provider with a diverse international clientele. Despite strong geopolitical winds, which have slowed the project down over the last 24 months, the owners persevered and have remained completely committed to the project. “, said Gordin

“We aim to attract large European  and US-based corporate customers from the IT, oil & gas and financial sectors. who are interested in a professional Tier III certified data center facility strategically located in close proximity to some of the fasted growing emerging markets,” said Vitaliy Malashevskiy, Director of Ambercore DC and a co-owner of Satgate UAB, the project’s sponsor.

The AmberCore DC project will be the second high-tech facility in the Baltic States for the SatGate Group. It will be scalable up to 30MW of power and 5,000 racks, due to the modular design approach, which will utilize the latest cooling technologies to maximize the efficiency and minimize power consumption.

“This project will showcase the latest technological advances, and will open up a superb opportunity for UK and U.S. cooperation with the Baltic region countries,” Gordin added.

About Ambercore DC – a project company formed to develop a TIER III data center strategically located in the Baltics. To date, the project’s sponsors have invested over $6 million in property acquisition, design, engineering, development, certification and marketing of the project. The design has been certified TIER III by the Uptime institute. It is the only facility in Europe with proprietary access to an adjacent uplink/downlink teleport facility, which has been developed and is being operated by its parent company – Satgate UAB

Fi3E BadgeAbout Satgate UAB  – SatGate UAB is a leading satellite services provider, based in Lithuania. Operating a unique satellite teleport facility located near of Vilnius, SatGate provides a full range of satellite communication services in Europe, the Middle East and Central Asia to ISPs, telecoms, the oil and gas industry, and other corporate and private customers. SatGate integrates and manages turn-key communication solutions of any complexity. For more information, please visit http://www.satgate.net

WP_20130620_022About Broad Street Capital Group-Based in the World Trade Center’s Freedom Tower in New York City’s financial district, Broad Street Capital Group is an international private merchant bank, which since 1988 has served several foreign governments, multiple state-owned companies, as well as SMEs in emerging markets. The Firm focuses on arranging project financing in the $50-500 million range, providing political risk mitigation, export management services and cross-border market development advisory. Although the Firm has clients ranging from Bangladesh to Oklahoma, its primarily geographic focus is on the countries of Eastern and Central Europe and Central Asia.

The  firm works closely with all trade and development agencies of the U.S. Government and Export Credit Agencies of several European and North American countries.  Since its inception, Broad Street Capital Group has been involved in multiple high-profile cross-border transactions in IT/telecom, aerospace, healthcare,  energy generation, food security, nuclear safety, hospitality and franchising sectors. The firm’s current advisory portfolio exceeds $675 million.  For more information, please visit www.broadstreetcap.com, or contact Rustem Tursynov at info@broadstreetcap.com

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Broad Street Capital Group arranges $285 million in an export financing transaction slated to create over 600 jobs

Broad Street Capital Group arranges $285 million in an export financing transaction slated to create over 600 jobs 

(April 9th, 2015), New York. Broad Street Capital Group announced today that it has arranged a $285 million long-term, low-interest export credit financing facility through the Export Import Bank of Hungary (Magyar Export-Import Bank Zrt.) to finance production and installation of small gas turbines capable of producing 174 MW of electricity and heat.  Acting as the exclusive financial advisor to the Distributed Generating Company, LLC of Samara, Russia, Broad Street Capital Group has structured a complex tri-country transaction, which involves joint US-Hungarian manufacturing and supply effort.  The transaction will create over 600 jobs in Hungary and in the US over the next twenty-four months.

“We are delighted to serve as the financiers on this cutting-edge project, which will provide distributed energy generation services to commercial and state-owned offtakers, helping them maximize energy efficiency and control costs. This transaction will serve as the job creation driver to two storied manufacturing companies on both sides of the Atlantic.  Given today’s complex geopolitical circumstances in Eastern Europe, keeping focus on financing and development of small and medium enterprises is especially challenging. ” stated Alexander M. Gordin, Managing Director of Broad Street Capital Group

About Broad Street Capital Group

Based in the heart of New York City, Broad Street Capital Group is an international private merchant bank with extensive experience in developing and financing exports and infrastructure projects in emerging markets. The firm works closely with a number of international Export Credit Agencies, as well as with all trade and development agencies of the U.S. Government.   For over 25 years, Broad Street Capital Group has successfully served a broad array of private and state-owned clients in multiple countries and has been involved in several high-profile cross-border transactions in energy, IT/telecom, aerospace, healthcare, hospitality and franchising sectors. The firm’s hallmark is its proprietary Develop, Finance, Supply and Insure™ approach to help clients achieve their international business goals For more information, please visit www.broadstreetcap.com

 

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Bracing for Another Storm in Emerging Market

By Kevin Gallagher, Associate Professor of International Relations at Boston University. Triple Crisis

In 2012, Brazilian President Dilma Roussef scolded U.S. Federal Reserve Chairman Ben Bernanke’s monetary easing policies for creating a “monetary tsunami”: Financial flows to emerging markets that were appreciating currencies, causing asset bubbles, and generally exporting financial instability to the developing world.

Now, as growth increases in the United States and interest rates follow, the tide is turning in emerging markets. Many countries may be facing capital flight and exchange-rate depreciation that could lead to financial instability and weak growth for years to come.

The Brazilian president had a point. Until recently U.S. banks wouldn’t lend in the United States despite the unconventionally low interest rates. There was too little demand in the U.S. economy and emerging market prospects seemed more lucrative.

From 2009 to 2013, countries like Brazil, South Korea, Chile, Colombia, Indonesia, and Taiwan all had wide interest rate differentials with the United States and experienced massive surges of capital flows. The differential between Brazil and the U.S. was more than 10 percentage points for a while—a much better bet than the slow growth in the United States.

According to the latest estimates from the Bank for International Settlements (BIS), emerging markets now hold a staggering $2.6 trillion in international debt securities and $3.1 trillion in cross border loans—the majority in dollars.

Official figures put corporate issuance at close to $700 billion since the crisis, but the BIS reckons that the figure is closer to $1.2 trillion when counting offshore transactions designed to evade regulations.

Now the tide is turning. China’s economy is undergoing a structural transformation that necessitates slower growth and less reliance on primary commodities. Oil prices and the prices of other major commodities are stabilizing or on the decline. It should be no surprise then that many emerging-market growth forecasts are continually being revised downward. Meanwhile, growth and interest rates are picking up in the United States. The dollar gains strength; the value of emerging market currencies fall.

Some analysts predict that emerging-market and developing countries can weather the storm through floating exchange rates, the development of local bond markets, interest rate hikes, or by using some of their foreign exchange reserves. These tools are important, but may not be available or enough.

Floating exchange rates and resulting depreciation can cause the debt burden of firms and fiscal budgets to bloat overnight. Given that most of the capital inflows were in dollars, depreciating currencies mean that nations and firms will need to come up with ever-more local currency to pay debt—but in a lower growth environment.

What is more, most countries didn’t properly invest their commodity windfalls into increasing the competitiveness of their industries. Thus, exports may not pick up at all. An IMF study shows that while Latin America saw one of the biggest commodity windfalls in its history, it has the least to show for it in terms of savings or investment relative to other booms. What is more, the massive exchange rate appreciation that occurred as a result of the tsunami in short-term inflows made many industries uncompetitive and pulled them out of key global commodity chains.

Thus, weak currencies and more debt may be apt to lead to falling confidence rather than surges in exports that will help their countries adjust to the new shocks.

Local bond markets help, but most debt is indeed in dollars and most local debt is held by foreigners who are always the first to dump such debt for foreign shores. Interest rate hikes can also be dangerous. They are often not enough to reverse the flight to the U.S. and can choke off what little growth there is to be had in a downturn. Depleting foreign exchange reserves doesn’t always work, and non-Asian countries whose reserves are a function of the commodity boom will be reluctant to disperse such reserves in the wake of commodity price declines.

The problem is that too many countries failed to regulate during the boom and instead let capital flows storm into their countries to bloat balance sheets and currency values. They are left with increasing debt as currencies slide, and not enough competitiveness to benefit from currency depreciation. The result could be more financial instability that could further threaten prospects for growth and employment.

Emerging-market and developing countries may need to resort to regulating the outflow of capital alongside these other measures. Such moves have traditionally been shunned by international institutions and capital markets alike.

New research on the cutting edge of economics and by the IMF now justifies the regulation of capital outflows to prevent or mitigate a full-blown crisis. The IMF was bold in recommending the regulation of inflows during the surge, but has shied from noting the utility of regulating capital in flight. Worse, new U.S. trade agreements such as the Trans-Pacific Partnership have stripped out balance-of-payment exceptions that would have allowed nations to regulate capital.

If we have learned anything from the global financial crisis it is that nations need as many tools at their disposal to prevent and mitigate financial instability. Instability anywhere can lead to instability everywhere so let’s make sure all tools and hands are on deck.

Develop, Finance, Supply & Insure Your Way to International Business Success

Develop, Finance, Supply & Insure,
Are services offered by Broad Street each day.
 In crossing the borders, the headaches we cure,
     For clients who risk, we hold danger at bay
———— 
The deals are global, the problems are massive,
A shepherd is needed to guide business along,
We highlight the issues, and structure financing,
We help sellers export and their buyers grow strong
————- 
We’re Fluent In Foreign and help grow the business
For those who seek to franchise, or invest,
Until they succeed we patrol cross the borders,
Until YOU succeed, our Team shall not rest
————- 
So as you get settled and learn all about
The business of projects, and exports and risk.
Remember to smile, as there is no cure 
From catching the bug called “Global Deals Disease”
————– 
And once you are ready to venture to strange lands,
There is only one thing you can count on for sure,
We are here for you and there is no one better,
When you need to Develop, Finance, Supply & Insure
http://www.broadstreetcap.com
 
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Exporters Fear Credit Crunch

Ex-Im Bank’s Future Is Concern as Congress Allows Temporary Reprieve

Jennifer and Mark Dettman of Shank’s Veterinary Equipment, which relies on Export-Import Bank credit.
Jennifer and Mark Dettman of Shank’s Veterinary Equipment, which relies on Export-Import Bank credit. DANIEL ACKER

A decision by Congress to extend the Export-Import Bank only temporarily is raising concern among business owners who say they rely on the credit agency to lower the risks of exporting.

Congress extended the agency’s charter through the middle of next year as part of a compromise between supporters of the agency and those who want to eliminate it. Generally, lawmakers reauthorize the export-credit agency for multiple years at a time.

At Shank’s Veterinary Equipment Inc. in Milledgeville, Ill., Jennifer Dettman, the secretary and treasurer, said she relies on the Export-Import Bank to offer open credit for 60 days. Exports comprise about 30% of the company’s over $900,000 in yearly sales.

Shank’s, which has seven employees, manufactures surgery tables for large animals, and sells its equipment to universities, zoos and private clinics in countries such as Mexico and India. It started using the bank’s credit-insurance policy in 2011.

A welder works on a large tabletop at Shank's Veterinary Equipment in Milledgeville, Ill.EN
A welder works on a large tabletop at Shank’s Veterinary Equipment in Milledgeville, Ill. DANIEL ACKER

When a customer orders a Shank’s table, typically priced at $20,000 to $30,000, the business spends roughly two months manufacturing it. The Ex-Im Bank will insure the order for a fee equal to 0.5% of the shipment value—a fee that Shank’s generally passes on to its customers. If the customer defaults, then after 90 days Shank’s can submit a claim to the bank, which covers 95% of Shank’s loss.

“It minimizes the risk for us,” said Ms. Dettman, describing it as “pretty good coverage.”

She concedes there may be similar insurance coverage available in the private marketplace, but isn’t sure whether those policies will cost more. “I would have to start all over again,” she added.

Similar conversations are happening at other businesses. Ralph Imholte, the president and CEO of Bepex International LLC in Minneapolis, said the bank’s working-capital guarantee program has helped expand his company’s exports to more than 50% of the company’s $25 million in annual sales. Mr. Imholte said he is “very worried” about the bank’s future, because “without that guarantee, it would limit the size of the projects we could undertake and limit our growth potential.” Bepex provides equipment and assistance to food and chemical businesses.

“Many small businesses and many jobs are dependent on the bank’s programs. It’s an area that needs less political fighting and more policy discussion,” Mr. Imholte said.

Those concerns haven’t swayed House Financial Services Chairman Jeb Hensarling (R., Texas), who has led the charge to close the Ex-Im Bank. Congress creates uncertainty any time it considers changing the law, he said, and there are more substantive things lawmakers could do to help businesses.

“The best way to help our small businesses and exporters right now would be through a fairer tax code, relief from Washington’s regulatory red-tape burden and lower energy costs—not political favoritism placed on an unsustainable taxpayer balance sheet,” Mr. Hensarling said.

The push from some conservative Republicans to close the bank is part of a broader political debate about the role that government should play in the economy. Critics say the agency represents a form of corporate welfare that interferes with private markets. They also question its role in helping small businesses, arguing that major firms such asBoeing Co. and General Electric Co. receive a significant amount of its financing. Only 19% of the agency’s direct support to firms in the 2013 fiscal year, measured by dollar volume, went to small businesses, for instance.

Supporters note that major U.S. trading partners similarly seek to aid their exporters, and contend that the agency fills a need not met by private insurers and banks. They also point out that the agency helps reduce the federal government’s deficit. The agency said earlier this month it had sent $675 million to the Treasury Department in fiscal 2014. The extension passed by Congress lasts through June 30.

For now, supporters are pushing for a longer-term reauthorization. Two key members of the House Financial Services Committee last week unveiled bipartisan legislation that would extend the bank’s charter for five years while bolstering risk and fraud protections. The measure, from Reps. Maxine Waters (D., Calif.) and Gary Miller (R., Calif.), would, among other things, require the bank to allocate 50% of its net earnings each year to create a reserve fund to cover potential losses.

Congress needs to provide more certainty to firms, said Mr. Miller. “It is in our national interest to help American companies secure sales around the world by making sure they aren’t undercut by aggressive foreign-export credit agencies,” he said.

Mr. Hensarling quickly dismissed the measure, saying “I look forward to the bank’s expiration.”

Small businesses, meanwhile, don’t know if they can rely on the bank for assistance over the long term.

Mrs. Dettman, who said she consults local export-assistance programs for guidance, also is unsure whether a regular bank would be willing to work with Shank’s, which makes just a dozen or so foreign shipments a year.

“We’re really limited in terms of who will work with us,” she said.

Write to Michael Crittenden at Michael.Crittenden@wsj.com and Adam Janofsky atAdam. Janofsky@wsj.com

Broad Street Capital Group announces major expansion campaign

Broad Street Capital Group announces major

expansion campaign to meet surging demand for

its ExportBoost™ program.

18 Merchant Banking Offices to open in multiple countries

in the next 18 Months

 

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“Fly Me To The Moon” UA-USA Air & Space Forum Program Announced

Alert! An International Business Development Opportunity

We are pleased to announce an all-star roster of speakers and panel participants for the upcoming “Fly Me To The Moon” UA-USA Air and Space Cooperation Forum. Do Not Miss one of the most anticipated Air and Space events of the year, as a high level delegation led by the Deputy Chief of the National Space Agency of Ukraine, presents Ukraine’s capabilities in the Air and space Arena and discusses cooperation options with US companies.  Register Today!

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