Alabama trade agency helps small businesses realize export opportunities
FOR IMMEDIATE RELEASE March 29, 2019
Linda Formella (202-565-3204); Bri LaTendresse
Washington, D.C. – The Alabama International Trade Center (AITC) at the University of Alabama in Tuscaloosa, Alabama, has been named Member of the Year of the Regional Export Promotion Program (REPP) of the Export-Import Bank of the United States (EXIM).
The AITC will receive the REPP member award at EXIM’s 2019 Annual Conference being held at the Omni Shoreham Hotel in Washington, D.C. The awards will be presented at the luncheon today. The AITC is one of two recipients of the REPP member award; the Mississippi Development Authority also will be recognized.
As a member of EXIM’s Regional Export Promotion Program (REPP), the AITC works to promote EXIM’s export financing products, as well as the products of the U.S. Small Business Administration (SBA), throughout the state. In fiscal year 2018, the AITC facilitated approximately $1.6 million dollars in EXIM authorizations in Alabama.
“The Alabama International Trade Center is a valued partner with EXIM in bringing export finance to Alabama’s small and medium-sized businesses in their local communities. We recognize the AITC’s impressive performance in 2018 and look forward to continuing our collaboration to provide Alabama exporters with the resources that they need to succeed internationally,” said EXIM Senior Vice President of Small Business James Burrows.
“The EXIM working capital and export credit insurance products are lifelines for Alabama exporters. Working with EXIM has helped the AITC deliver financing solutions for small businesses to enter and compete in overseas markets,” said AITC Director Brian Davis.
The AITC is an institutional member of the Alabama Small Business Development Center Network, a statewide network of 10 management and technical assistance centers. The network operates as a federal-state partnership program between the University of Alabama and the SBA.
The trade center is also a founding member of the Export Alabama Trade Alliance, a statewide export promotion network led by the International Trade Division of the Alabama Department of Commerce. For more information, please visit aitc.ua.edu.
ABOUT EXIM BANK:
EXIM Bank is an independent federal agency that provides competitive and necessary export credit to overseas purchasers of U.S. exports to promote and support American jobs. A robust and fully functioning EXIM Bank can assist the United States in leveling the global playing field for U.S. exporters when they compete against foreign companies that receive the support of their national export credit agencies. EXIM also contributes to U.S. economic growth and the support of more than a million jobs through the support of thousands of small and medium-sized enterprises (SMEs) around the country. Since 2000, EXIM Bank has provided $14.8 billion to the U.S. Treasury after paying for all of its administrative and program expenses.