Centered in Hickory, North Carolina, Bio-Pro Research is a small manufacturer focused on advancing bio-enzymatic stain and odor technology. Located only a day’s drive of 50 percent of the U.S. population and nearby the ports of Charleston and Wilmington, Bio-Pro Research looks to sell their products throughout the country and world. Leading the way in environmentally friendly products, Bio-Pro Research creates ecologically responsible solutions to age-old issues, such as spilled coffee, wine, and blood.
Similar to many other small businesses, Bio-Pro Research sought to expand their market by exporting to several countries. Looking to create a larger international distribution network, Bio-Pro Research set up multiple channels of distribution, mainly throughout Europe. However, these new international customers wanted 60-days open account credit terms. The necessity of financing such receivables threatened to deplete the Bio-Pro Research’s cash flow and hurt their profitability.
EXIM and Global Business Solutions, Inc., a registered EXIM insurance broker, worked together to insure the foreign accounts receivable generated by Bio-Pro Research’s export sales. EXIM made sure the small company received the nonpayment protection necessary for its international sales.
By using EXIM’s services, Bio-Pro Research grew its business dramatically and is now exporting to over 80 countries. Currently, half of their total revenue stream comes from its international sales. EXIM support has allowed this small North Carolina business to add jobs, maintain its cash flow, and expand across the globe. Recently, Bio-Pro Research closed a deal with a new international partner that will sell their products in over 80,000 stores!