The Export-Import Bank of the United States (US Exim) will guarantee working capital loans worth US$1.14mn made by InvestorsBank to finance the export of ZBB Energy’s power storage systems.
The transaction is provided under US Exim’s supply chain finance guarantee programme, which is available to lenders that provide loans to US exporters. The financing is designed to provide small business suppliers with access to capital faster and at a lower cost.
Eric Apfelbach, CEO and president of ZBB Energy says: “We are looking forward to working with Investors Bank and the US Exim for current and future export financing. We have a growing pipeline of projects around the world, and the US Exim guarantee provides attractive financing to support a corresponding growth in working capital. Combined with our recently announced US$10mn equity agreement with Aspire Capital, we have significantly improved our financial flexibility to support the growth of our business.”