Exporter: Hudson Pecan Company - Ocilla, Georgia
Destination: Asia, Middle East, Canada
Ex-Im Bank Product: WWorking Capital Lender Loan Guarantee of $3.6 million
Jobs Supported: 25
Lender: Branch Banking and Trust Company
The Hudson family knows pecans. In fact, growing and selling pecans has been a family occupation for over 150 years. That is why it came as no surprise when Randy Hudson started the Hudson Pecan Company in 1977.
Until only five years ago, the company made a modest profit with only a few employees. That all changed when Mr. Hudson took the company into the global marketplace with Ex-Im Bank's support. The Bank was able to provide Mr. Hudson's company with a $3.6 working capital lender loan guarantee, ensuring the company will have the funds to accept new business, grow its international sales and compete more effectively in the international marketplace.
In only a few short years the Hudson Pecan Company has seen its annual sales rise from roughly $500,000 to over $20 million. The increase is almost entirely due to exports, which now account for 90% of total sales, many of which are supported by the Ex-Im Bank financing products. This increase has allowed Mr. Hudson to hire an additional 25 employees, including his son, ensuring that yet another generation of the family is involved in the pecan industry. Check them out at hudsonpecan.com
"This economy is tough. It is next to impossible for small businesses with little liquidity to qualify for loans," said Mr. Hudson. "And that is why the Ex-Im Bank is so vital- without it we would not have grown and added jobs like we have."