Founded in the 1980’s, Larson Irrigation, Inc. of San Diego is a successful, full service reseller of irrigation and agricultural suppllies servicing the wholesale and retail markets of Mexico and the United States.
The company actively represents over 50 manufacturers helping it to penetrate the market in the Western United States and Mexico.
In 1985, Mr. Larson realized the company’s key foreign market was Mexico. The main buyer demographic was the Mexican farmer and usually these buyers preferred to use a freight forwarder for their shipments. Mr. Larson wanted to export, but with just a small business at the time, he was worried about shipping products and not getting paid.
Larson Irrigation not only sought to insure its foreign accounts receivable in case the buyers defaulted due to political or commercial risks. According to co-owner Ms. Patty Robles, the company's insurance broker first advised them of EXIM's product offerings and export credit insurance in particular.
Larson Irrigation, Inc. has been using EXIM's Export Credit Insurance to protect it against foreign buyer nonpyayment. Now, approximately 40 percent of Larson Irrigation’s total exports are insured through EXIM. EXIM has supported more than $3 million of Larson’s exports since 2014.