Australia's export credit agency, Export Finance and Insurance Corporation (EFIC), has opened a new office to provide support for Queensland businesses. The office opening is in response to increased demand for EFIC's services in the region and will enable EFIC to better assist local companies.
EFIC supports the growth of Australian companies in their international activities by providing tailored financial solutions when the private market faces constraints.
EFIC has appointed a new SME director for Queensland, Paul Tonges, who will work in Brisbane full time and open the new permanent office there.
Mr Tonges will be responsible for leading and providing financial solutions to small and medium-sized Queensland businesses to help them take advantage of export and export-related opportunities. This follows EFIC's success in the last 18 months in establishing a presence on the ground in both Western Australia and Victoria, in addition to the head office based in New South Wales.
Mr Tonges joins EFIC from Commonwealth Bank of Australia where he was head of trade and working capital finance across the bank's business and private banking divisions.
"We are pleased to welcome Paul to EFIC. He brings a wealth of experience in working capital finance, as well as a deep understanding and knowledge of the Queensland banking market," said EFIC's SME executive director Andrew Watson.
"With the challenges facing Queensland exporters, we are fortunate to have someone with his passion and experience in our team."
Mr Tonges said he was delighted to be joining EFIC and to build on its success in helping small and medium-sized exporters and subcontractors in export supply chains.
"A key focus for us will be strengthening our relationships with banking and professional partners in Queensland so we can continue to achieve great outcomes for our SME clients," he said.
