LOS ANGELES, June 5, 2018 /PRNewswire/ -- U.S. Secretary of Commerce Wilbur Ross presented FTC Commercial Corp. with the 2018 President's "E" Award for Export Service at a ceremony in Washington, D.C., May 21. The President's "E" Award is the highest recognition any U.S. entity can receive for making a significant contribution to the expansion of U.S. exports.
U.S. Commerce Secretary Wilbur Ross Presents Presidential "E" Award to FTC Commercial Corp, CA on May 21, 2018. (PRNewsfoto/FTC Commercial Corp.)
"FTC Commercial has demonstrated a sustained commitment to export expansion. The "E" Awards Committee was very impressed with FTC Commercial's creative financing solutions for start-up and small business exporters. The company's work of broad impact within the business community to promote exports was particularly notable. FTC Commercial's achievements have undoubtedly contributed to national export expansion efforts that support the U.S. economy and create American jobs," said Secretary Ross in his congratulatory letter to the company announcing its selection as an award recipient.
FTC Commercial Corp. (FTC) specializes in financial start-up businesses, public entities and global businesses. FTC partners with the International Trade Administration (ITA) and U.S. Department of Commerce to promote export trade and strengthen the competitiveness of U.S. companies in the international market. Since its founding 16 years ago, FTC has funded startups that have grown to more than $40 million in sales.
"Unlike other U.S banks and commercial finance companies, like domestic receivables, FTC Commercial Corp. has taken an aggressive position on advancing against foreign receivables, which have further enabled our clients to export and gain global presence, as well as improving their bottom line. We have factored numerous companies from start- ups, like William Rast/Justin Timberlake, TOM'S Shoes, Newbark, Haney, Joe's Jeans Kids and Save Khaki," said Ken Wengrod, Co-Founder/President of FTC Commercial Corp.
In total, Secretary Ross honored 43 U.S. companies and organizations across the country with the President's "E" Awards for their role in strengthening U.S. economy by sharing American ingenuity outside of our borders.
"Since his inauguration, job creation has been a top priority for President Trump as well as his entire Administration," said Secretary Ross. "There is no better way to kick off World Trade Week than to honor these companies who have increased exports while creating jobs for communities across the United States."
In 1961, President Kennedy signed an executive order reviving the World War II "E" symbol of excellence to honor and recognize America's exporters. Today's honorees helped contribute to exporting more than two trillion dollars' worth of U.S. goods and services in 2017, and nearly 11 million American jobs were supported by exports in 2016.
This year, 25 companies and organizations were honored with the "E" Award for Exports for demonstrating a sustained increase in export sales over a four-year period. There were nine companies and organizations that assisted and facilitated export activities who received the "E" Award for Export Service. The "E" Star Award for Exports, which recognizes previous "E" Awardees who have reported four years of additional export growth, was awarded to eight firms. One company was awarded the "E" Star Award for Export Service, which recognizes previous "E" Awardees that have shown four years of continued support of exporters since first winning the "E" Award.