Boyle Energy Service and Technology (BES&T) is the longest active independent commissioning services provider in the United States. Itsservice optimizes energy performance in new power and energy infrastructure construction projects. The company's patent-pending services have reduced greenhouse emissions and eliminated millions of gallons of hazardous waste at many facilities around the world.
Although exports are a great source of wealth for many small businesses, international sales provide an array of threats to a company's financial health. International distributers often expect to but on open-credit terms; while these can allow a seller to be more competitive, global customers do not always pay on time for the products they bought. This results in a loss of working capital for the U.S. -based seller.
EXIM export credit insurance protected the company against possible non-payment for their foreign recievables. This helped promote their cash flow and ultiamtely expand into new markets.
With EXIM Bank's support, BES&T has grown its international sales 75% over the last three years. Before using EXIM Bank's export credit insurance, the company just shipped to Mexico and Canada. Boyle now has customers in Bahrain, Egypt, Kuwait, Lithuania, Algeria, Spain, Greece, England, Uzbekistan, Nigeria, India, Australia, Saudi Arabia, Guatemala and Colombia. Exports now comprise 60% of the company's $15 million in sales. Ten jobs were created due Boyle's increase in international sales.