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North Carolina CEO Sleeps Better with EXIM Support

Exporter/Customer: 
Bio-Pro Research, LLC
Export Destinations: 
More than 80 Countries
EXIM Bank Product: 
Export Credit Insurance
Export Sales: 
Half of Total Sales

Bio-Pro

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. 

 

 

 EXPORT CHALLENGE

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 SOLUTION

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.

RESULT

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!

 

 

“Export credit insurance sure as heck helps you sleep at night, knowing you have 95 percent coverage on your receivables. I do not lose a wink over our international sales.”
Bill Hadley, CEO