EFIC expands export credit service in WA

The Export Finance and Insurance Corporation (EFIC) has announced more support for WA manufacturers following increased demand for its services in the area.

EFIC is a government agency that provides tailored finance solutions to help Australian businesses overcome the financial barriers they face when expanding their export activities.

EFIC plans to open a new office in Perth, headed-up by newly-appointed SME and Mid Market director, Leela Hanson, who has reportedly been representing EFIC through her work with Western Australian businesses over the past three years.

Hanson is said to be a specialist in trade finance, bringing over 20 years of experience to the new role.

Hanson’s new Perth-based role will see her provide finance and medium-term insurance solutions to Western Australian manufacturers. Working closely with AusTrade, she will reportedly help local firms partner with banks, win contracts and grow their businesses.

“EFIC has been a supporter of Western Australia's exporters for over five decades and this new presence is a mark of our commitment to helping more WA companies succeed in exports and overseas investment,” Hanson said.

“Establishing an office in Perth will ensure we are on the ground and ready to assist WA companies including those with exposure to the mining boom. Our physical presence provides local companies with access to a wider range of financial options.”

According to Hanson, Western Australian businesses have been among Australia's most dynamic and successful exporters.

Some of the businesses EFIC has helped improve their reach in the past include Austal, Equinox and NGIS Australia, along with various resource companies.

Hanson says EFIC’s services are particularly useful for SMEs that may have had trouble gaining financial assistance from banks in the past.