JOC Staff | Nov 02, 2012 2:07PM EDT
The Export-Import Bank of the United States is offering help to exporters in areas that have been declared federal disaster areas because of the impact of Hurricane Sandy.
Ex-Im Bank said it is offering administrative relief measures to allow businesses and financial institutions that participate in its financing programs to return to their business concerns when appropriate and without penalty, including automatic extension of a variety of deadlines for working capital loan facilities and its Multibuyer Insurance Program.
“The bank provided similar measures during Hurricane Katrina and believes these same steps will help those business and banks that have suffered economic disruptions during Sandy,” Ex-Im Bank Chairman and President Fred P. Hochberg said in a written statement.