Business Education

As 2020 approaches, the eventuality of another recession looms for many companies and lenders alike. To prepare, many banks and borrowers are looking at Trade Credit Insurance as a measure to help protect against potential losses.

Many of America’s leading national economic indicators, including the Purchasing Managers’ Index (PMI) and regional Federal Reserve Bank indices, have rebounded sharply since the beginning of the COVID-19 pandemic outbreak last March, signaling an ongoing American economic recovery moving into 2021 especially in the manufacturing sector.

The Small Business Administration (SBA) just substantially reduced their fees for their Export Working Capital Program (EWCP) effective October 1, 2020. Here’s what every manufacturer, exporter, and advisor needs to know—and how First American Bank contributed to the effort through our Congressional testimony and advocacy. 

First American Bank recently participated in the annual Manufacturing Day celebration where one of our long-term customers, Demetech, was formally recognized. Our subject matter experts presented to more than 750 participants on the importance of proactive trade finance and working capital strategies as exemplified by Demetech’s success.