Export-Import Bank of the United States Releases May 2022 Small Business Authorization Data
WASHINGTON – As part of the Export-Import Bank of the United States’ (EXIM) commitments to transparency and supporting America’s small businesses, the agency today released authorization data for small business transactions in May 2022. EXIM approved 138 authorizations totaling $120.1 million for small businesses that export American goods and services around the world. Small business authorizations for May also include $14.4 million in support of minority- and women-owned businesses.
To date in FY 2022, EXIM has authorized $922.3 million in small business transactions, which account for 40.7 percent of the agency’s total authorizations. For FY 2021, small business authorizations totaled more than $1.6 billion, representing 28.2 percent of total authorizations. Historically, nearly 90 percent of the total number of EXIM’s authorizations directly benefit U.S. small businesses.
This month, EXIM is highlighting Oregon Soap Company of Portland, OR. This small business, started in 1994, makes wholesale handmade soaps using sustainable practices designed to combat climate change. Oregon Soap Company has been dedicated to leaving the earth a cleaner place, manufacturing its soap using renewable energy and offsetting its carbon emissions by sponsoring over 750,000 trees and native plants. Since 2014, EXIM’s export credit insurance has supported nearly $1.3 million of the company’s exports, helping Oregon Soap Company to expand into four production facilities and support dozens of employees. During May, EXIM offered $500,000 in export credit insurance support, financing that will help the company remain competitive in their export markets.
To see how other small businesses across the country are using EXIM products, view these success stories. To see how EXIM supports exporters in every state, view this state-by-state summary.
ABOUT EXIM:
The Export-Import Bank of the United States (EXIM) is the nation’s official export credit agency with the mission of supporting American jobs by facilitating U.S. exports. To advance American competitiveness and assist U.S. businesses as they compete for global sales, EXIM offers financing including export credit insurance, working capital guarantees, loan guarantees, and direct loans. As an independent federal agency, EXIM contributes to U.S. economic growth by supporting tens of thousands of jobs in exporting businesses and their supply chains across the United States. Since 1992, EXIM has generated more than $9 billion for the U.S. Treasury for repayment of U.S. debt. Learn more at www.exim.gov.