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EXIM Support Helps Seattle Company to Expand to New Markets

Exporter/Customer: 
Enprecis Inc.
Export Destinations: 
China, Russia, Australia, Brazil, India, Europe, and the U.K.
EXIM Bank Product: 
Export Credit Insurance
Jobs Created: 
10

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Enprecis Inc. is a small-business based in Seattle, Wash., that exports innovative customer-feedback technology for the global automotive industry. The company's products, which include online surveys, data management and business intelligence reporting, facilitate customer-feedback collection and analysis that lead to improvements in vehicle quality and customer satisfaction. Founded in 2006, Enprecis currently employs 30 people in Seattle, Detroit, and Los Angeles.

After learning of EXIM Bank from the Washington State Department of Commerce, Enprecis took insurance for a line of credit on foreign receivables. The company added 10 new jobs to its rosters and expanded their reach to China, Russia, Australia, Brazil, India, Europe, and the U.K.

EXIM Bank was a great resource in providing Enprecis with insurance to acquire working capital on foreign receivables. The capital was used to allow for resource expansion domestically and overseas to support our growing company. During the period of EXIM's support, our revenues, foreign manufacturers, and growth into foreign markets grew from zero to over 50% of total revenues.
Richard Counihan, CEO