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Popcorn from Nebraska Sold Around the World with EXIM

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, Nebraska, exports popcorn, concessions supplies and coconut oil to international markets. Created in 1998, the company currently employs 70 people in Nebraska, Indiana, Illinois, Ohio and Kentucky.

In 1998, the company attended a trade show in Las Vegas with merely a card table and secured their first customer which was from Indonesia.

EXPORT CHALLENGE

Preferred needed to mitigate their credit risk on international slaes.

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 is now worldwide filling orders in more than 70 countries. Its main markets are China, SE Asia, Japan and Mexico. 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 support has translated into approximately 25 new jobs. In three years alone (2015 to 2018), EXIM has supported $58.3 million of Preferred’s international sales.

"EXIM Bank has been instrumental in giving our owners and financial partners the confidence to sell to more than 70 countries around the world and remove the risk of getting paid for our products.”
Kelly Grossnicklaus, Director of Risk Management