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Florida Medical Company’s Export Sales Surge with EXIM Support

Exporter/Customer: 
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: 
Export Credit Insurance
Jobs Supported: 
60

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, DemeTech was able to offer open account credit terms to foreign buyers, while at the same time protecting itself from buyer nonpayment with an export credit insurance policy.

This Miami exporter also receives a 25 percent discount off premium rates since it has EXIM's insurance and the SBA's export working capital guarantee. ore than 60 percent of DemeTech employees are working today to fill orders supported by EXIM. Since 2014,  EXIM has supported more than $17 million of DemeTech's sales.

“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