Amesbury, MA, April 4, 2019) – Chuck Withee, Provident Bank President and Chief Lending Officer, accompanied Leanne Spees, SVP, International Finance Officer, at the two-day Export-Import Bank of the United States (EXIM Bank) Annual Conference on March 28th and 29th. Spees, who has over thirty-years of export financing experience, was asked to speak at the event.
“EXIM Bank has been a longstanding partner to The Provident Bank,” explained Spees. “They asked me to participate on their Healthcare Infrastructure: Financing Medical Exports panel so that I could talk with medical suppliers and service providers about the various financing options available to them. I wanted to make it clear that medical advisory services, as well as products, can receive financing through EXIM Bank.”
The Provident Bank is one of the few banks in the Northeast to have signed a Master Guarantee Agreement with EXIM Bank.
The Healthcare Infrastructure: Financing Medical Exports panel included a roundtable of exporters, lenders and buyers who discussed opportunities and financing for medical projects, equipment and services. Topics covered included: the exporter experience in emerging markets with supplying medical equipment and services; opportunities to support training and management services between U.S. teaching hospitals and their foreign counterparts; underlying risks associated with these opportunities; and appropriate repayment term for different types of medical equipment and services.
“Our relationship with EXIM Bank has been invaluable,” comments Spees. “It has provided tremendous support for our customers, particularly small and medium-sized businesses, by allowing The Provident to help them grow revenues through exports. We were honored to be asked to participate in EXIM’s 2019 Annual Conference.”
About EXIM Bank
EXIM is an independent federal agency that supports and maintains U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. The Bank provides a variety of financing mechanisms, including working capital guarantees and export credit insurance, to promote the sale of U.S. goods and services abroad. Almost 90 percent of its transactions directly serve American small businesses.
For more information about EXIM visit: https://www.exim.gov
About The Provident
The Provident Bank, a subsidiary of Provident Bancorp, Inc. (NASDAQ: PVBC), is an innovative, commercial bank that finds solutions for our business and private clients. We are committed to strengthening the economic development of the regions we serve, by working closely with businesses and private clients and delivering superior products and high-touch services to meet their banking needs. The Provident has offices in Massachusetts and New Hampshire. All deposits are insured in full through a combination of insurance provided by the Federal Deposit Insurance Corporation (FDIC) and the Depositors Insurance Fund (DIF).