Exporters: Aerolyusa, Inc. - Westbury, NY
Destination: Italy, Czech Republic, Poland, Brazil and UK
Export Sales: $4.2 million
Jobs Supported: 10
Aerolyusa on Long Island has about 20 employees and is a successful distributor of aircraft hardware and electronics. It has been using Ex-Im Bank’s multi-buyer export credit insurance policy to grow its international sales since 2008. In 2010 through just September, the company covered $4.2 million shipments. With Ex-Im insurance in place, lenders are more likely to advance funds to exporters as the receivables are insured by the U.S. government. Thus, Aerolyusa assigns its foreign receivables to JP Morgan Chase Bank to increase its working capital cash flow.
“We could not conduct international business without Ex-Im Bank’s support,” said Judy Wollman, Vice President.
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