Facebook pixel

Montana Lumber Company Adds Three Jobs with EXIM Insurance

Exporter/Customer: 
Great American Lumber
Export Destinations: 
Mexico
EXIM Bank Product: 
Export Credit Insurance
Export Sales ($): 
About $7 million annually
Jobs Created: 
Three

Great American Lumber

Missoula-based Great American Lumber provides lumber for the framing and siding of multifamily homes. The company has supplied five hundred multifamily projects nationwide.

EXPORT CHALLENGE

There was a big concern of foreign buyer nonpayment and the risk could adversely affect the cash flow of the company.

EXIM SOLUTION

Great American has been using EXIM’s export credit insurance since 2009 and Brett Tarnet Insurance Services is its broker.

RESULTS

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.

"EXIM has benefited our company by reducing the risk associated with exports to Mexico which has provided our company with greater access to funding so we can increase sales."
Vaso Ballis, Controller