Umpqua Bank, a subsidiary of Umpqua Holdings, has received High Level Delegated Authority Lender status by the Export-Import Bank of the US (Ex-Im Bank), the country's official export credit agency.
Under the Ex-Im Bank’s working capital guarantee program, the High Level designation status will allow Umpqua Bank to approve working capital loans without obtaining Ex-Im Bank’s prior approval.
The High Level Delegated Authority Lender status 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.
Tony Oriti, senior vice president and managing director for international banking division at Umpqua Bank, said: “We are pleased to have received this designation from Ex-Im Bank so that we can better serve our international banking clients. 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.”