Umpqua Bank, a subsidiary of Umpqua Holdings Corporation (NASDAQ: UMPQ), has been designated a High Level Delegated Authority Lender by the Export-Import Bank of the United States (Ex-Im Bank), the nation’s official export credit agency.
Under the Ex-Im Bank’s Working Capital Guarantee Program, the High Level designation allows Umpqua Bank to approve working capital loans without obtaining Ex-Im Bank’s prior approval. This designation enables Umpqua Bank to maximize efficiency when qualifying and funding export finance loans, ensuring a faster turnaround for exporters seeking working capital to fulfill overseas orders.
“We are pleased to have received this designation from Ex-Im Bank so that we can better serve our international banking clients,” said Tony Oriti, senior vice president and managing director for Umpqua Bank’s International Banking Division. “Having access to the financial resources needed to compete in the global marketplace is critical to the businesses we serve. As a high level delegated authority lender, we can now ensure that our clients receive prompt turnaround on the approval of larger export finance loans.”
Umpqua Bank’s International Banking Division is equipped to provide a comprehensive suite of banking solutions for businesses between Seattle to San Francisco that are involved in international trade.
About Umpqua Bank
Umpqua Bank, headquartered in Roseburg, Ore., is a subsidiary of Umpqua Holdings Corporation (NASDAQ: UMPQ) and has 184 locations between San Francisco and Seattle, along the Oregon and Northern California Coast, and in Central Oregon and Northern Nevada. Umpqua Bank has been recognized for its innovative customer experience and banking strategy by national publications including The Wall Street Journal, The New York Times, BusinessWeek, Fast Company and CNBC. The company has been recognized for the past four years in a row on FORTUNE magazine’s list of the country’s “100 Best Companies To Work For.” Umpqua Holdings also owns a retail brokerage subsidiary, Umpqua Investments Inc., which offers services through Umpqua Bank stores and in dedicated offices throughout Oregon. Umpqua's Private Bank Division serves high net worth individuals and non-profits providing customized financial solutions and offerings. Umpqua Holdings Corporation is headquartered in Portland, Ore. For more information, visit http://www.umpquabank.com.
About Ex-Im Bank
Ex-Im Bank is the official export-credit agency of the United States. The independent, self-sustaining federal government agency helps to create and maintain U.S. jobs by financing the sales of U.S. exports, primarily to emerging markets throughout the world. Ex-Im Bank provides a variety of financing mechanisms, including working capital guarantees to help small and medium-sized U.S. businesses, export-credit insurance to protect against nonpayment by foreign buyers, and loan guarantees and direct loans to assist foreign buyers of U.S. goods and services. More information is available on Ex-Im Bank's web site at www.exim.gov.
Shannon Riggs, 503-546-7885