Missoula-based Great American Lumber provides lumber for the framing and siding of multifamily homes. The company has supplied five hundred multifamily projects nationwide.
There was a big concern of foreign buyer nonpayment and the risk could adversely affect the cash flow of the company.
Great American has been using EXIM’s export credit insurance since 2009 and Brett Tarnet Insurance Services is its broker.
EXIM has covered $9.4 million of its lumber sales to Mexico from 2013 to 2018. This insurance supported three new jobs and doubled the company’s sales to Mexico. By reducing the risk of foreign buyer nonpayment, Great American has also had greater access to funding to increase its sales. Exports now account for one-third of its total sales.