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Personal Care Sales Expand Worldwide with EXIM Insurance

Exporter/Customer: 
Andalou Naturals
Export Destinations: 
Asia and U.A.E.
EXIM Bank Product: 
Small Business Export-Credit Insurance
Export Sales ($): 
$2.7 million
Jobs Supported: 
21

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Founded by Stacey Egide in 2010, Andalou Naturals, a small business-exporter based in Novato, California, relies upon EXIM Bank to sell natural and organic products for skin, hair and body care abroad. The company currently employs 21 employees in California, Ohio, New York, Texas, Illinois and Colorado.

 Andalou Natural has become a repeat policyholder of EXIM Bank's export credit insurance and expanded its export reach to Taiwan, Malaysia, South Korea, Singapore, Japan, Thailand, Indonesia, Vietnam and the U.A.E. Total company revenue currently amounts to $18 million, approximately 15 percent of which is export-related. 

From 2015 to  2018, EXIM Bank has supported $4.6 million in export sales for Andalou Natural.

"By providing affordable accounts receivable export insurance, EXIM Bank has given us the opportunity to expand at a much faster rate and has broadened our pool of possible importers. EXIM support has allowed us to hire an export manager and a sales-support assistant as we have expanded. Without this insurance coverage, we would require prospective importers to pre-pay for their orders, and this typically limits the number of companies who show interest."
Mark Egide, President