Financing Clean Energy Exports Export-Import Bank of the United States Rob Guthrie, Regional Director San Francisco Branch Office

Export-Import Bank of the U.S. Independent U.S. Government agency, founded in 1934 Self-sustaining & profitable! -- $431 million net profit in FY 2015 (9 months) $17 billion in U.S. exports supported in FY 2015 MISSION: U.S. JOBS THROUGH EXPORTS  1.4 million jobs supported in 2015

Exports are Our Business:  86% of all companies supported are small businesses Ex-Im Bank Provides: ▪Working Capital Loan Guarantees ▪Export Credit Insurance ▪Buyer Loan Guarantees ▪Buyer Direct Loans Export-Import Bank of the U.S.

Eligibility Criteria U.S. Content ▪Short-term transactions: 50.1% of COGS. ▪Medium / Long-term transactions: only U.S. content including profit margin, up to 85%. No Defense Articles ▪Exceptions may be made for humanitarian purposes, drug interdiction, & dual-use items. Country Eligibility ▪Support available in over 155 countries ▪Restrictions may apply for political or economic reasons ▪Refer to the Country Limitation Schedule (CLS) at

Working Capital Loan Guarantee Ex-Im Bank provides 90% repayment guarantees for working capital loans. Revolving OR transaction-based, made by commercial lenders to U.S. companies to finance foreign purchase orders. Enables exporters to use export-bound materials, labor, overhead, and foreign A/R to collateralize their working capital facility. May be used to cover stand-by letters of credit for bid and performance bonds: 25% collateral.

Working Capital Loan Guarantee: Windstream Windstream-inc.com

Windstream, Inc. of New Albany, IN manufactures low-cost vertical axis wind turbines for rooftop and roadway applications. In May 2012, Ex-Im Bank guaranteed a $500,000 revolving working capital credit line to help fill Windstream’s foreign purchase orders. Working Capital Loan Guarantee: Windstream

GBC International Bank received the 90% guarantee under Ex-Im Bank’s ‘Delegated Authority' program. KEY: the working capital loan guarantee increases the advance rates that lenders may advance on the primary collateral:  75% on ALL export-bound inventory  90% on foreign accounts receivable Working Capital Loan Guarantee: Windstream

Expand Your Borrowing Base

Export Credit Insurance Enables U.S. exporters to offer short- and medium-term credit directly to their customers. Credit insurance is an attractive substitute to cash-in- advance, local bank financing, and letters of credit. Ex-Im Bank also may insure a letter of credit instead of paying bank confirmation charges; usually more cost-effective.

Export Credit Insurance: Coolerado Coolerado.com

Export Credit Insurance: ForeverPure ForeverPure.com

Coolerado of Denver, CO and ForeverPure of Santa Clara, CA use Ex-Im Bank’s multi-buyer credit insurance to extend open account terms to their foreign buyers. Alternatives: 1.Cash in advance: Expensive and risky from buyer perspective. 2.Foreign letters of credit fees or local interest rates are frequently higher than in the US. 3.Private-sector insurance: available, but may be more expensive and may not cater to smaller businesses. Export Credit Insurance: Coolerado, ForeverPure

Credit Insurance Premiums (Small Business Exporter Policy) ▪CAD- 0.20% ▪60 days- 0.55% ▪120 days- 0.90% ▪180 days- 1.15% ▪360 days %

Service Exports Ex-Im Bank supports service exports on short, medium, and long-term financing programs. ▪Guidelines are more stringent, and support requires additional analysis of the service. ▪Examples of services supported: - software design - oil and geothermal well drilling - engineering & architectural design ▪More information available upon request.

Buyer Loan Guarantee Program Guaranteed Loans: made by commercial banks (U.S. or foreign) to a foreign buyer with a 100% unconditional repayment guarantee from Ex-Im Bank. ▪Coverage: up to 85% of the U.S. export ▪Negotiated interest rates, usually a floating rate based on spread over 6-month USD LIBOR rate, currently ~ 1% ▪15% required cash payment: banks may finance ▪Guarantee available in major foreign currencies

Buyer Loan Guarantee: SolarWorld USA Solarworld-usa.com

Example: SolarWorld USA SolarWorld USA manufactures CSi solar PV modules in Hillsboro, OR (solarworld-usa.com). Ex-Im Bank provided a 10-year, $6.4 million loan guarantee to PNC Bank to finance a 1.4 MW rooftop solar project in Barbados. Sustainable Recycling Centre, Inc. (Barbados) will use the electricity to power SBRC’s operations. ☼ SBRC is wholly-owned by Williams Industries, making significant savings in electricity costs.

Direct Loan Program ▪Direct Loans are made by Ex-Im Bank to a foreign buyer. ▪Current interest rate for a year loan: ≤ 3.01% ▪Coverage: up to 85% of the U.S. export. ▪Ex-Im Bank requires the buyer to make a cash payment to the exporter equal to at least 15% of the U.S. supply contract. ▪Minimum Direct loan: $10 million, USD only.

1.Consult with the Bureau of Industry and Security (part of the U.S. Dept. of Commerce) to determine if you need an export license: 2.Work with U.S. Commercial Service to identify potential buyers & develop relations: 3.Contact Ex-Im Bank to discuss potential transactions and the application process: contact information below 4.Ex-Im application time varies from one week to six months, depending on program and amount financed. ProcessProcess

ConclusionConclusion Ex-Im Bank is interested in projects of ANY SIZE. Ex-Im Bank is interested in projects of ANY SIZE. Ex-Im Bank supports short, medium, and long-term financing to creditworthy U.S. Exporters and/or their international customers. Ex-Im Bank supports short, medium, and long-term financing to creditworthy U.S. Exporters and/or their international customers. Ex-Im Bank will work with you to create bankable projects. Ex-Im Bank will work with you to create bankable projects.

Contacts:Contacts: San Francisco Rob Guthrie Craig Schumann Craig Schumann