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Florida Medical Company’s Export Sales Surge with EXIM Support

DemeTech Corporation
Export Destinations: 
Italy, Vietnam, Spain, Turkey, United Kingdom, New Zealand, Greece, Egypt, Hungary, Indonesia, Colombia, Dominican Republic, Saudi Arabia and Jordan
EXIM Bank Product: 
Working Capital and Export Credit Insurance
Jobs Supported: 

Luis Arguello, Sr.

DemeTECH, a Florida manufacturer of surgical sutures and blades, expanded its business into more than 100 countries and grew revenue by over 400 percent. Today, 80 percent of its revenue comes from exports to international markets in the Middle East, Europe, Asia and Australia. Working with EXIM Bank, DemeTECH was able to offer credit terms to foreign buyers, while at the same time protecting itself from buyer nonpayment with an export credit insurance policy.

DemeTech also uses the SBA working capital product and the services of the U.S. Commercial Service to develop its markets. More than 60 percent of DemeTech employees are working today to fill orders supported by EXIM Bank.

This Miami exporter also receives a 25 percent discount off premium rates since it has EXIM insurance and export working capital guarantee. EXIM has supported $11.6 million of Demetech's sales from 2013 to 2018.

“We have expanded our distribution worldwide, thanks in large part to EXIM Bank's multi-buyer insurance. The ability to extend credit to buyers is key to our astronomical growth.”
Luis Arguello, Sr., President and CEO