New York Bio-Tech Company Exports Worldwide Backed by Ex-Im's Environmental Insurance

Photo courtesy of Ecological Laboratories Inc.

Ecological Laboratories Inc., a small business in Lynbrook, N.Y., selects, grows and produces bio-formulations specifically to meet the requirements of on-site wastewater systems. The company’s bio-formulations are backed by over 27 years of experience in the field of industrial microbiology. Ecological Laboratories has 55 employees, with six working directly on international sales.

The company has been using a small-business environmental insurance policy from Ex-Im Bank to offer open-account terms to international buyers, especially those in new markets. Ex-Im’s small-business environmental policy features a global premium-rate schedule, no deductible and enhanced political risk coverage. Qualified small-business environmental exporters can maintain the policy even if they exceed the usual small-business policy threshold of $7.5 million in export-credit sales averaged over three years.

“We do trade around the globe now – Singapore, Italy, China, the UK – all over the world,” said Ecological Laboratories President Michael Richter, who was a panelist at an Ex-Im Global Access for Small Business Forum on Long Island in April 2011. “We are able to make these sales due to the credit backing of Ex-Im Bank. To our small business, it is the greatest selling tool for opening new international business.”