Private Export Funding Corporation - PEFCO
Hoover's Company Profiles:
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Private Export Funding Corporation
|
280 Park Ave., Ste. 4W New York, NY 10017 NY Tel. 212-916-0300 Fax 212-286-0304 |
Type: Private
On the web:
http://www.pefco.com
Private Export Funding Corporation (PEFCO) wants what's "Made in America" to make it outside America. The company, established with the help of the US Department of the Treasury and the Export-Import Bank of the United States, supports the export of US-made goods by purchasing loans in the secondary market from commercial lenders that finance US exports. Lenders sell loans to PEFCO to improve profitability, remove low-yielding assets or loans in high-risk countries from their balance sheets, free up credit capacity for other borrowers, and to reduce the size of their loan portfolios. PEFCO shareowners include major commercial banks involved in US export financing, as well as industrial export companies.
Officers:
Chairman, President, and CEO: Don B. Taggart
SVP and Treasurer: Commercial Lending
Barron's Banking Dictionary:
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Private Export Funding Corporation (Pefco)
Trade finance corporation owned by a consortium of U.S. Commercial banks and industrial companies that arranges fixed rate medium-term and long-term loans to foreign buyers. Organized in 1970, the corporation works closely with the Export-Import Bank (Eximbank), which guarantees repayment of PEFCO loans. The corporation finances its activities through the sale of debt securities in the capital markets and by credit lines from member banks and the Eximbank.
Investopedia Financial Dictionary:
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Private Export Funding Corporation - PEFCO
A single corporation created by the U.S. Treasury and the Export-Import Bank of the U.S. that facilitates funding of exports that have not been subsidized. The PEFCO does this with the purchase of loans in the secondary market from commercial lenders. The loans are then used to finance U.S. exports.
Investopedia Says:
The PEFCO was created to help American-made goods find their way into other countries. PEFCO loans are guaranteed by the Export-Import Bank of the United States. Some of the shareholders in PEFCO include large commercial banks that participate in financing U.S. exports, as well as industrial export companies.
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Copyrights:
Barron's Banking Dictionary
Dictionary of Banking Terms. Copyright © 2006 by Barron's Educational Series, Inc. All rights reserved.
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