1. Robert Naglick, CFO

3. B&P - Background
• Located in Saginaw Michigan
• Manufactures mixing, separating and compounding
equipment for the plastics, chemical and
pharmaceutical industries.
• Equipment orders range in price from $125,000 to $2.5
million.
• Production cycles range from six to fourteen months.
• B&P also sells replacement parts. Parts orders average
$50,000.
• Annual Revenues total $30 million.
• Approximately 50% of equipment and parts sales are
exported to Asia, Europe and Latin America.

4. Key Issues
• Need for additional working capital funding
availability.
• Repayment risk associated with export sales and
receivables.
• Export-related Work in Process inventory
financing over six to fourteen month production
cycle.
• Requirement to issue performance related
standby letters of credit and bid bonds.
• A single export order can be significant to the
balance sheet.

5. Solution
• $5 million Export Line of Credit Agreement with JP Morgan Chase,
guaranteed by Export-Import Bank of the U.S.
• B&P also has a separate $5 million domestic line of credit with JP Morgan
Chase.
• B&P’s cost of Working Capital Guarantee Program – Annual fee is assessed
on the Export Line Facility.
Borrowing Base
Collateral Domestic Line Advance Rate Export Line Advance Rate
Accounts Receivable 80% 90%
Inventory – Raw material and WIP 50% 75%
Reserve for Standby L/C’s (100%) (25%)
Result
• B&P has been able to achieve steady export growth.