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Small Business Powers Rural Africa With $91 Million Loan Guarantee
June 23, 2020 Eugene Uhm, Business Development Specialist

Company Background

Weldy-Lamont Associates, Inc. has been providing electrical power and control services globally since 1946. The company was founded by L.L. (Butch) Weldy and was originally known just as Weldy Associates. In 1971, Dennis W. Lamont purchased Weldy Associates and Weldy-Lamont Associates, Inc. was born. With their headquarters located outside of Chicago and a staff of under 20 employees, Weldy-Lamont Associates, Inc., continues to set the standards in the electrical power and control marketplace with a focus on rural electrification and substation/transmission line projects in Africa.

EXIM Experience

For over 12 years, Weldy-Lamont has a rich history partnering with EXIM. In August 2008, the company worked on the Ghana Self Help Electrification Project (SHEP Parts III & IV) which was backed by a $344 million authorized loan guarantee by EXIM. Recently, Weldy-Lamont was selected over several foreign competitors for a rural electrification project with the Senegal National Electricity Agency and the Republic of Senegal government. The $91.5 million-dollar authorized loan guarantee from EXIM supports U.S. exports of engineering and construction services that will transform day-to-day life in the Republic of Senegal. Once completed, the project will have provided reliable electricity to rural communities throughout the country and will have supported an estimated 500 U.S. jobs in 14 states.

Actor Will Smith once said, “If you're not making someone else's life better, then you're wasting your time. Your life will become better by making other lives better.” This exemplifies how Weldy-Lamont is committed to helping the citizens of Senegal and other African nations by improving their way of life.

For 86 years, the Export-Import Bank of the United States (EXIM) has supported U.S businesses with trade finance products, like the loan guarantees utilized by Weldy-Lamont. These various trade finance products have enabled U.S. exporters to sell goods and services around the world.

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