Mary Howe leads about 30 employees to manufacture commercial and industrial refrigeration equipment in Chicago. In 2007, her international customers began asking for more time to pay, but as a small manufacturer, Howe Corp. didn’t have the cash on-hand to afford longer terms for payment.
To solve this problem, Mary began extending credit terms up to 90 days by covering her export sales with EXIM’s export credit insurance. This policy enabled the company to fulfill sales orders and keep the factory running. As a result, the company has obtained new customers in Latin America and it added two additional employees due to EXIM’s support of $10.1 million in export sales from 2014 through 2018.