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Water Protection Company Gets Nonpayment Protection for its Exports

Exporter/Customer: 
Dry Corp, LLC
Export Destinations: 
Japan, France, United Kingdom, Germany, Canada, Australia, Israel, South Africa, Spain, China, Ireland
EXIM Bank Product: 
Special Buyer Credit Limit Insurance

two children in a pool

Dry Corp, LLC, founded in 1998 by Dr. Roy Archambault, is an innovative manufacturer of consumer medical products designed to enhance everyday comfort and quality of life. One of those products is DryPro, a high quality rubber sleeve that fits over casts, bandages, prosthetics, catheters and other surgical and medical tools that offer complete waterproof protection. The other is DryCASE, a line of waterproof phone cases, tablet cases, Bluetooth speakers, coolers and more.

Based in Wilmington, North Carolina, Dry Corp began exporting almost eighteen years ago when it landed its first order from Japan. As the small company grew, it started exporting to major cities in France, the United Kingdom, Germany and Canada.  In 2012, Dry Corp had plans to expand even further and reached out to its broker, Trade Credit Insurance Agency, LLC, for assistance.

The broker connected Dry Corp with EXIM Bank for a Special Buyer Credit Limit Insurance (SBCL) which enabled the growing company to protect itself against nonpayment risk, reach new buyers through more competitive terms and to finance its international receivables. Since utilizing EXIM insurance, the company has increased sales and now exports to 40 countries around the world including new markets in Australia, Israel, South Africa, Spain, and China. 

“Dry Corp’s presence continues to grow internationally each year with the help of EXIM Bank. We strive to attend at least two international trade shows a year and to meet face-to-face with potential new distributors. EXIM is a great asset to have to be able to set up new international accounts and fulfill their orders confidently.”
Corey Heim, Chief Operating Officer