Russ: This is the PKF Texas Entrepreneur’s Playbook. I’m Russ Capper, this week’s guest host. Today’s topic is export financing, and I’m here once again with Cynthia Flake, senior vice-president in Comerica Bank’s Houston Middle Market group. Well, welcome back again, Cynthia.
Cynthia: Thanks so much, Russ.
Russ: You bet. It’s real easy, when we start talking about exports and export financing, to put myself in the position of a small business person; and it just seems like the details are almost overwhelming.
Cynthia: Well, they can be. Details, for example, like invoicing and payment terms in the company’s sales contract can really make a big difference. If an export contract is large enough and there are glitches, it can really tie up a company’s cash and working capital. And that’s really where the right team, including their banker as a trusted advisor, can help review all of those documents and advise them correctly.
Russ: It seems very important to get a trusted advisor, to me.
Cynthia: It absolutely is, and it takes the right team from the bank standpoint. Not just the lending staff, but also the international trade finance group, that needs to be a very large and experienced group and work as a team with the customer to advise them.
Russ: All right. Well, thanks once again for helping us out on this complicated issue.
Cynthia: My pleasure, Russ.
Russ: You bet. This has been another Thought Leader Production brought to you by PKF Texas Entrepreneur’s Playbook. Tune in next week for another chapter.