FOR IMMEDIATE RELEASE August 28, 2019
Kristin Rudman (202) 565-3201
Washington, D.C. – Kimberly A. Reed, president and chairman of the Export-Import Bank of the United States (EXIM), addressed West Virginia business and industry leaders today, underscoring EXIM’s role in sustaining U.S. jobs by helping businesses compete effectively in the global marketplace and increase sales of American-made products.
Chairman Reed returned to her home state to speak at the West Virginia Chamber 83rd Annual Meeting and Business Summit, which had more than 1,000 registrants—the largest gathering of business, financial, educational, and political leaders in the state. Reed, who was introduced by Steve Roberts, president of the West Virginia Chamber of Commerce, discussed how EXIM’s financing tools can help West Virginia companies, both large and small, grow through the export of “Made in the USA” goods and services.
“It is an honor to have addressed the West Virginia Chamber of Commerce today at its annual meeting and business summit in my home state of West Virginia and to have discussed how the Export-Import Bank of the United States can help create American jobs, boost the economy of the United States, and also help businesses thrive in the global marketplace,” said EXIM President and Chairman Kimberly A. Reed. “EXIM is more critical than ever to businesses, particularly small businesses, and the agency is here to help grow West Virginia’s economy and create American jobs through the export of U.S.-made products overseas.”
Reed added, “In the past five years, EXIM has supported exports valued at more than $19 million from 14 companies across West Virginia. During my swearing-in in the Oval Office in May, President Trump asked me to ‘lead this institution to new heights’ so that ‘the world will see more products stamped with those four beautiful words: MADE IN THE USA.’ We want America’s small businesses, including here in West Virginia, to know we can assist them as they compete for and win deals around the world.”
Reed also showcased an EXIM West Virginia success story: Wheeling Truck Center, a family-owned small business with 20 employees in Wheeling. Wheeling Truck Center uses EXIM’s export credit insurance to be able to export to ten countries, thereby allowing the company to increase its sales and create West Virginia jobs. Reed previously hosted a May 31 small business round table at EXIM that also featured this best practice success story.
EXIM provides a portfolio of small business solutions for U.S. businesses, including export credit insurance to minimize nonpayment risk and improve cash flow, working capital guarantees to provide credit lines for producing goods and services, and term financing to support international buyers in purchasing American capital goods and services.
ABOUT EXIM BANK:
EXIM is an independent federal agency that promotes and supports American jobs by providing competitive and necessary export credit to overseas purchasers of U.S. goods and services. A robust EXIM can level the global playing field for U.S. exporters when they compete against foreign companies that receive support from their governments. EXIM also contributes to U.S. economic growth by helping to create and sustain hundreds of thousands of jobs in exporting businesses and their supply chains across the United States. In recent years, 90 percent of the total number of the agency’s authorizations has directly supported small businesses.
For more information about EXIM, please visit www.exim.gov.