Woman-Owned Producer of Spices and Condiments Grows Exports With Express Insurance

Photo courtesy of Greek Island Spice Inc.

Greek Island Spice, Inc. (GIS) is a small business in Fort Lauderdale, Fla., that has thrived since 1997 by manufacturing fresh marinades and fancy condiments. This woman-owned company began on a card table at a local garlic festival and has grown into an innovative producer of exotic fresh sauces for the food-service and food-manufacturing industries.

GIS President JoAnne Theodore learned about Ex-Im Bank products at a trade show and discovered that her company qualified for the Bank's Express Insurance. Backed by this new financing tool, GIS was ready to enter new markets and compete worldwide. The policy was administered by broker Global Business Solutions of Winston Salem, N.C., the winner of Ex-Im Bank’s 2011 Broker of the Year award. Express Insurance has enabled GIS to expand sales in China, its primary market. Ex-Im-insured exports already have supported 12 jobs at the company.

“We are excited about expanding our exports to Asia. Ex-Im’s Express Insurance enables us to extend attractive terms to our international buyers. And I like going into an export sale knowing that Ex-Im’s insurance gives me a bona-fide buyer,” said GIS President JoAnne Theodore.