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EXIM Assists Utah Company Guide its Clients into Emerging Markets

Exporter/Customer: 
Mango Enterprises
Export Destinations: 
Middle East and North Africa
EXIM Bank Product: 
Export Credit Insurance

Mango

Mango Enterprise develops trade relationships and operations for other U.S. companies in most Middle Eastern countries. In particular, Mango Enterprise helps companies meet the challenges of moving their products overseas—such as negotiating the maze of regulatory requirements—as well as navigating cross-cultural expectations and positioning the product in a way that takes into account local consumer behavior.

“For many American companies, exporting to the Middle East and North Africa (MENA) can seem too daunting to pursue,” explained Tarek Mango, Managing Director of Mango Enterprises. “Missing out on those markets results in a lot of missed opportunity for American businesses.” After a career in the private sector developing a thorough understanding of MENA markets, Mr. Mango founded Mango Enterprises to help U.S. manufacturers succeed in those markets.

The company’s core competence is in the health and medical care industries and primarily exports vitamins and nutraceuticals.

EXPORT CHALLENGE

Mango Enterprises was concened about its financial health given the inherent political and commercial risks of international sales, especially in emerging markets. Just a few foreign buyer nonpayments would harm its cash slow and its company overall.

EXIM SOLUTION

The company started with an EXIM Express Export Credit Insurance policy and now has a small business multi-buyer policy.  Its portfolio is concentrated in the Middle East with shipments to Kuwait, Saudi Arabia, and Jordan. Mango Enterprises’ partnership with EXIM allows the company to combine its expertise in navigating regulatory, political, and cultural environmental across the region with the financial security of EXIM’s insurance. The EXIM insurance policies protect American exporters from the risk of foreign buyer nonpayment and allows them to also extend competitive open account credit terms to these customers. Mango Enterprise has been using EXIM’s insurance to enter new markets with confidence by extending credit terms from 30 to 180 days without worrying about nonpayment.

RESULTS

Since 2017, EXIM has supported the export of nearly $4 million of Mango Enterprises’ American-made products.

“EXIM is critical to what we do. We’re going to be using even more EXIM products next year.”
Tarek Mango, Managing Director