Missoula-based Great American Lumber provides lumber for the framing and siding of multifamily homes. In fact, the company has supplied in excess of five hundred multifamily projects nationwide excess of five hundred multifamily projects.
There was a big concern of buyer nonpayment and the risk could adversely affect cash flow.
Great American has been using EXIM’s Export Credit Insurance through Brett Tarnet Insurance Services.
EXIM has covered $8.6 million of its lumber sales to Mexico from 2013 to 2017. This insurance supported three new jobs and doubled the company’s sales to Mexico. By reducing the risk of buyer nonpayment, the company had greater access to funding to increase its sales. Exports now account for one-third of total sales.