Radius Networks is a small, Washington, D.C., technology company that helps consumers around the world spend less time waiting in lines to place their orders. The company provides “mobile proximity” solutions, such as interactive kiosks and customer location technologies, to customers across the globe. Radius Networks' solutions include interactive kiosks and customer location technologies that enhance the customer fast food experience, have been embraced by some of the world’s largest multinational companies. Landing a contract with a company the size and scope of McDonald’s is an awesome opportunity for any business.
The challenge for a small business is that McDonald’s global is not one monolithic company; rather it is an enterprise of thousands of individual corporate partners across 119 countries that Radius Networks must sell to directly. Doing business with large multi-national organizations may be every small business owner’s dream, but it comes with a price. If an overseas buyer does not pay the bill, small companies have very limited recourse to recover the funds, unless those bills are covered by export credit insurance.
Working with EXIM and Global Insurance Services of Ellicott City, Maryland, Radius Networks navigates this overwhelming landscape and delivers the highest quality solutions to the world’s largest fast food chain. Export credit insurance from EXIM provides Radius Networks protection from nonpayment by international buyers (covering up to 95 percent of the sales invoice), but the real value to the company is that export credit insurance gives the small business the ability to respond to a huge worldwide opportunity, empowering the 40-person company to compete for large contracts that require global fulfillment.
In only two years, EXIM has supported more than $8 million of Radius Networks’ exports.