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Ex-Im Bank in Your Town: Helping More Small Businesses Create Jobs by Expanding Exports

Bank to Hold a Number of Forums, Discussions for New Small Business Customers in August

FOR IMMEDIATE RELEASE August 7, 2014

Media Contact Name/Phone: 

Office of Communications (202-565-3200)

Washington, D.C. - Officials from the Export-Import Bank of the U.S. (Ex-Im Bank) will hold a series of forums, discussions, and small-business stops to increase awareness among American small businesses of how the Export-Import Bank can help them boost their exports abroad, while creating jobs here at home.

“The Export-Import Bank has approved more small business transactions in the last 5 years than in the previous eleven years combined, and in FY 2013 alone small business deals accounted for nearly 90 percent of our authorizations,” said Chairman Hochberg. “But we want to do even more to equip American small businesses for lasting success, and this month's tour will provide a great opportunity for us to educate more small business exporters and increase their sales.”

Ex-Bank Chairman and President Fred P. Hochberg, Vice Chair Wanda Felton, and Board Director Patricia Loui will visit more than a dozen cities across ten states to meet with current and potential exporters and explain how the Bank's financing support can empower them to boost their sales in new overseas markets. In addition, representatives from the Export-Import Bank will be holding a number of seminars and export workshops to help small businesses better understand how the Bank's products can improve their business.

Small businesses typically utilize three of Ex-Im Bank's products: trade credit insurance, working capital loan guarantees, and direct working capital loans. Ex-Im Bank's trade credit insurance reduces the risk of nonpayment by a foreign buyer and allows small businesses to offer extended repayment terms. Ex-Im Bank's working capital loan guarantees and loans allow small businesses to cover costs like payroll, overhead, and inputs while they wait to get paid from overseas customers. These lines of credit can keep small businesses operating and workers employed while business in global markets develops.

More information regarding each event will be released as it becomes available. However, current events will include:

Small Business Tour Stops:

8/7 Los Angeles, Calif.
8/7 Auburn, Wash.
8/7 Ft. Mitchell, Ky.
8/8 Cedar Rapids, Ia.
8/8 Houston, Texas
8/10 Los Angeles, Calif.
8/11 Portland, Ore.
8/11 Payson, Ariz.
8/11 Phoenix, Ariz.
8/12 Ft. Myers. Fla.
8/12 Murrieta, Calif.
8/12 Dallas, Texas
8/12 Beaverton, Ore.
8/13 Ft. Myers, Fla.
8/13 St. Charles, Mo.
8/13 St. Louis, Mo.
8/13 Salem, Ore.
8/13 Ontario, Calif.
8/14 Columbus, Ohio
8/14 Cincinnati, Ohio
8/15 Sarasota, Fla.
8/15 Memphis, Tenn.
8/18 Rockford, Ill.
8/18 Birmingham, Ala.
8/19 Eau Claire, Wis.
8/19 LaCrosse, Wis.
8/20 Seattle, Wash.
8/20 Miami, Fla.
8/21 Seattle, Wash.
8/21 Lexington, Ky.
8/26 Los Angeles, Calif.
8/27 Statesboro, Ga.


ABOUT EX-IM BANK:

Ex-Im Bank is an independent federal agency that creates and maintains U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. The Bank provides a variety of financing mechanisms, including working-capital guarantees, export-credit insurance and financing to help foreign buyers purchase U.S. goods and services. In the past fiscal year alone, Ex-Im Bank earned for U.S. taxpayers more than $1 billion above the cost of operations.

In FY 2013, Ex-Im Bank approved more than $27 billion in total authorizations to support an estimated $37.4 billion in U.S. export sales and approximately 205,000 American jobs in communities across the country. For the year, the Bank approved a record 3,413 transactions-- or 89 percent--for small-businesses. Small business exporters can learn about how Ex-Im Bank products can help them increase foreign sales at http://go.usa.gov/ZVTd. For other information about Ex-Im, visit www.exim.gov.