Export Finance Australia customer Epichem has made an ASX announcement that they have repaid their two loans back in full. Epichem delivers products and services in synthetic and medicinal chemistry to the global drug discovery and pharmaceutical industries in over 40 countries worldwide for over 17 years.
The announcement marks the final milestone in repaying two financial loans provided by Export Finance Australia for the construction of the two purpose-built, state of the art laboratories at Technology Park, Bentley in 2015 and 2018 respectively. Export Finance Australia provided Epichem two loans with a total value of $1,204,360.
Managing Director and CEO of Export Finance Australia Ms Swati Dave congratulated Epichem on paying back their two loans in full.
“Six years ago Epichem contacted us for finance to build a new laboratory to help them to broaden their export opportunities. I’m pleased that we were able to meet this financing need and fill a market gap.
“This is exactly why Export Finance Australia exists – to recognise and support Australian businesses by helping them to grow and succeed."
Epichem’s CEO, Colin La Galia stated; “Epichem’s ability to pay back the loan as per the repayment schedule without deferral during the last six years is evidence of it’s sustainability within a highly competitive, niche industry and will strengthen its credit rating for future leveraging (debt) to fund growth.”
“We would like to thank EFA for their support and guidance during this time to allow us to grow and export our products and services to more than 40 countries.” Mr La Galia said.
Further information about Epichem's story can be found here.
Briony Craber, 0467 308 398, email@example.com
Export Finance Australia is Australia’s export credit agency. We provide commercial finance for Australian exporters and overseas infrastructure development that delivers benefits to Australia. We help Australian SMEs and larger companies to realise export opportunities, contribute to an export supply chain or grow their international revenue.