Steven Label Corporation is the maker of labels for medical devices, technology and consumer goods. One of its largest clients, Rainbird, has been with the company since its inception in 1954. Customer loyalty is revered, as all labels are custom made through customer specifications.
The company was acquired from its original owners in the 80’s and had existing international accounts. Large accounts with multinational companies, such as Apple, Samsung and Sony were also established. Each employee’s position is directly related to the export of goods.
In order to build upon its early global success, Steven Label felt they needed to expand into China, but they felt the Chinese market was very risky at the time. So, the company looked to EXIM Bank to provide export credit insurance in order to protect itsleffrom nonpayment by Chinese buyers and to negotiate competitive payment terms.
Steven Label Corporation is currently exporting to Asia, Europe and South America. Exporting contributes nearly 40% of overall sales for the company. The company leverages export credit insurance to provide valuable products to the Chinese market.