Did you know that 90% of EXIM transactions are for small businesses? L’Ecole No 41 (aka Lowden Schoolhouse Corporation) is one of those businesses. It is an award-winning, family-owned winery is located in Walla Walla, Washington.
Walla Walla’s rolling hills and temperate climate proved to be an ideal location for making their artisan wines, but the winery still needed some help. They sought to broaden their market far past the valley they operate from.
L’Ecole No 41 was able to sell wine across the United States but was wary of selling overseas due to the possibiltiy of buyer nonpayment.
EXIM’s Export Credit Insurance ensures the company can sell internationally and get paid. The nonpayment protection of the policy covers the exporter for up to 95% of expected payment. EXIM’s insurance also helped by allowing L’Ecole No 41 to extend “open account” credit terms to its buyers, expanding their market size and increasing sales with existing customers.
L’Ecole No 41 Winery’s Bordeaux blend won an international trophy—one that they couldn’t have received had they not been supported by EXIM. Furthermore, the company is selling to twenty countries. Its international markets only make up about 10% of their presence, but they expect it to grow. To-date EXIM has supported nearly one-half million dollars of L'Ecole's export sales.