Facebook pixel

North Dakota Company and EXIM are Covering the Globe with Seeds

Exporter/Customer: 
Healthy Oilseeds, LLC
Export Destinations: 
Worldwide
EXIM Bank Product: 
Export Credit Insurance

Healthy Oilseeds

Healthy Oilseeds, part of Gussiaas Family Farm, began exporting organic and non-organic seeds in 2002. The family-owned venture in Carrington exports golden and brown flaxseed, hempseed, and borage to five continents including countries such as Algeria, Brazil, Kazakhstan, South Korea, and Spain. The Gussiaas family has been farming for decades and exporting has become an increasingly important part of the business, just as it has for many American farmers.

EXPORT CHALLENGE

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 SOLUTION

Gussiaas Family Farm has utilized EXIM insurance since 2009 to cover their sales around the world, protecting against the political and commercial risks of buyer nonpayment.

RESULTS

EXIM supported $530,000 of Healthy Oilseeds export sales from 2016 to 2018.

 

“Doing a few exports here and there led overseas companies to contact our company about bigger orders.”
Roger Gussiaas, CEO