Drake Finance Disburses Over $5.5 Million to United States Agricultural Exporters

Online, November 3, 2013 (Newswire.com) - Drake Finance is pleased to announce that it has disbursed over $5.5 million to United States exporters of agricultural products during the month of October through its United States Bulk Agricultural Export Financing program.

•$2,193,000 disbursed to a United States exporter in Missouri selling soybean meal in bulk to a customer in the Dominican Republic.

•$1,349,000 disbursed to a United States exporter in New York selling yellow corn in bulk to a customer in Colombia.

•$632,950 to a United States exporter in Illinois selling soybean meal in bulk to a customer in the Dominican Republic.

•$347,000 to a United States exporter in New York selling soybean meal in bulk to a customer in Colombia.

•$271,550 disbursed to a United States exporter in Illinois selling yellow corn in bulk to a customer in El Salvador.

While Drake Finance offers a variety of trade finance programs to United States exporters including United States Capital Equipment Export Finance, Export Receivables Finance, International Factoring, Renewable Energy Export Finance, and Pre-Export Purchase Order Finance, the vast majority of our export finance this month supported United States bulk agricultural export sales through our United States Bulk Agricultural Export Financing program.

Through this program, Drake Finance pays up to 100% of the purchase order from the foreign buyer to the United States exporter. The United States exporter receives payment from Drake Finance in as little as 48 hours from the time shipment documents are processed. The foreign buyer pays Drake Finance back over time, typically 180 days from the time the export shipment occurs.