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Popcorn from Nebraska Sold Around the World with Ex-Im Bank Export Credit Insurance

Exporter/Customer: 
Preferred Popcorn LLC
Export Destinations: 
60 Countries
EXIM Bank Product: 
Export Credit Insurance
Export Sales ($): 
$21 million
Jobs Created: 
25

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Preferred Popcorn LLC is a small-business vendor based in Chapman, Neb., exports popcorn, concessions supplies, and coconut oil to international markets. Started in 1998, the company currently employs 40 people in Nebraska, Indiana, Illinois, Ohio, and Kentucky.

EXPORT CHALLENGE

The company was wary of foreign buyer nonpayment.

EXIM SOLUTION

Since its founding, the company has relied upon EXIM Bank's export credit insurance to protect against the commercial and political risks of nonpayment.

RESULTS

Preferred Popcorn now fills orders in 60 countries around the globe. As a consistent policy holder of EXIM's export credit insurance, the company has watched its sales mount to $43 million, 50 percent of which are export-related. Moreover, EXIM Bank support has translated into approximately 25 new jobs. In three years alone (2015 to 2018), EXIM has supported $48.7 million of Preferred's international sales.

Ex-Im Bank insurance has given us the confidence we needed to expand our vision worldwide. We plan to continue to utilize Ex-Im Bank in the future to expand our business. It is a great program to help businesses mitigate their risk as they increase their presence in the expanding world market.
Norman Krug, President and CEO