ServerLIFT is a high-tech company that specializes in the manufacturing of lifts for lifting and handling data center servers. It was founded in 2002 in response to a growing demand for a safe and efficient way for staff to handle servers and other IT equipment in the data center.
This company originally manufactured in China and moved operations back to the U.S. in several stages over the past few years. In the last year this effort, combined with growth in domestic and international sales, helped ServerLIFT double the number of its U.S. employees. They received a $250,000 Express Insurance policy from EXIM in June, 2011, with approved foreign buyers in Ireland and Turkey. Exports more than doubled between 2015-2017 allowing the policy coverage to expand to $750,000.
This financing product was developed specifically for qualified small businesses. It features a streamlined application and both a policy quotation and up to five foreign-buyer credit indications for amount to $300,000 within ten business days. This particular insurance policy allows companies to develop their exports over a course of three years. After three years as an Express policyholder, they can graduate to another policy type which can often offer more flexibility.
ServerLIFT was able to seek new business by extending terms to international buyers. As a result of having an insurance policy with EXIM Bank, the company was able to expand its list of potential distributors and, therefore, increase sales. After spending several years with EXIM, they were successful in obtaining coverage in the private sector.