2021 Service Provider of the Year – NaviTrade Structured Finance
The Service Provider of the Year Award is presented to a service provider that has established an international presence for the export of their service.
Maine’s craft beer industry is looking to international markets for business growth, and NaviTrade Structured Finance is helping brewers maximize and finance international sales. Founded by principal Brent Hoots, the company offers export credit insurance programs through the Export-Import Bank of the United States (EXIM) and private sector underwriters. According to Hoots, while 80% of companies in Europe use export credit insurance when exporting their goods, in Maine that number is only 1%. NaviTrade is working closely with MITC, the US Export Assistance Center (USEAC), and the Maine Brewers Guild to educate Maine companies on the benefits of export credit insurance as they explore and expand into overseas markets. While the pandemic put a pause on some overseas initiatives, Hoots is now seeing pent up demand as the global economy starts to improve.
“We are thrilled by this award and appreciate the recognition,” says NaviTrade Founder and Principal Brent Hoots. “Our collaboration with MITC and USEAC to help educate Maine companies on the benefits of export credit insurance as they venture into overseas markets has been valuable and rewarding.”