Financing the Export of U.S. Goods and Services
Trade and project financing in Turkey can be a deal maker – or breaker – for American firms. For a number of factors, Turkish banks are sometimes hesitant to lend into projects or offer exacting terms and conditions to local importers, thus creating a sweet spot for American exporters and financial institutions. American exporters should come prepared to speak about payment terms when meeting with new Turkish partners and include a full range of options from 30/60/90/120 days credit terms to export credit insurance – an affordable but often overlooked way to secure payment of receivables while mitigating risk. Open account terms are not recommended until Turkish partners have demonstrated an ability to pay in full, on time, and over an extended period.
The U.S. Commercial Service in Turkey maintains strong relationships with local and U.S. banks as well as the U.S. Export-Import Bank, the Overseas Private Investment Corporation and the U.S. Trade and Development Agency to provide finance to qualified American firms helping them to compete and win in Turkey. Our corporate partners, including PNC Bank, Daruma Finance (an agent of M&T Bank), and UPS Capital have a strong presence in the market. PFS Finance also provides trade and project finance. For more information on these programs, contact Gorkem.Yavilioglu@trade.gov
The Export-Import Bank of the United States
The Export-Import Bank of the United States (Ex-Im Bank) is the official export credit agency of the United States. Ex-Im Bank's mission is to assist in financing the export of U.S. goods and services to international markets.
Ex-Im Bank enables U.S. companies — large and small — to turn export opportunities into real sales that helps to maintain and create U.S. jobs and contribute to a stronger national economy.
EXIM Master Guarantors in Turkey
Overseas Private Investment Corporation
OPIC is the U.S. Government’s development finance institution. It mobilizes private capital to help solve critical world challenges and in doing so, advances U.S. foreign policy. Because OPIC works with the U.S. private sector, it helps U.S. businesses gain footholds in emerging markets catalyzing revenues, jobs and growth opportunities both at home and abroad. OPIC achieves its mission by providing investors with financing, guarantees, political risk insurance, and support for private equity investment funds.
Faruk Kahraman
ofk@accordatlantic.com
113 Barksdale Professional Center
Newark, DE 19711
USA
www.accordatlantic.com
Tel: 302-309-9176
Fax: 302-309-9177
Cell: +90-532-283-8330
U.S. Trade and Development Agency
USTDA Mission Statement is to help companies create U.S. jobs through the export of U.S. goods and services for priority development projects in emerging economies. USTDA links U.S. businesses to export opportunities by funding project planning activities, pilot projects, and reverse trade missions while creating sustainable infrastructure and economic growth in partner countries.
USTDA provides grant funding to overseas project sponsors for the planning of projects that support the development of modern infrastructure and an open trading system. The hallmark of USTDA development assistance has always involved building partnerships between U.S. companies and overseas project sponsors to bring proven private sector solutions to developmental challenges. Contact Verinda Fike at vfike@ustda.gov for more information.
The U.S. Small Business Administration
The U.S. Small Business Administration (SBA) dedicates its energy and resources to providing support to small businesses and small-business owners across the nation.
Since its inception nearly sixty years ago, SBA has helped millions of small business owners by providing the financial support, contracts, counseling and other forms of assistance they need to succeed. SBA's programs now include financial and federal contract procurement assistance, management assistance, and specialized outreach to women, minorities and armed forces veterans. SBA also provides loans to victims of natural disasters and specialized advice and assistance in international trade. Go to www.sba.gov for more information.
