FOR IMMEDIATE RELEASE July 31, 2012
J. Lawton King (202-565-3200)
WASHINGTON, D.C. - The Export-Import Bank of the United States (Ex-Im Bank) opened a new regional export finance center in Minneapolis, Minn., today in conjunction with the Bank's Global Access Forum to promote small-business exports.
The center, one of four to be opened this year by Ex-Im Bank in its efforts to stimulate the nation's exports, will assist local businesses in the region to realize opportunities abroad and provide enhanced access to Ex-Im Bank products and services. The Bank will launch similar regional centers in Atlanta, Ga. (August 15); Seattle, Wash. (August 20); and Detroit, Mich. (late fall).
Former Vice President Walter Mondale delivered the welcome remarks at the forum. Wanda Felton, first vice president and vice chair of Ex-Im Bank, also addressed the forum and offered a program overview of the Global Access for Small Business. More than 85 local small-business exporters attended and received advice on engaging foreign markets and using Ex-Im Bank products.
Our mission at Ex-Im Bank is to support American jobs by financing American exports, said Felton. The opening of our new export center in Minneapolis is good news for regional exporters as we seek to boost exports and job growth.
Denis M. Griffin will serve as the Bank's regional director and will be located in the Minneapolis office of the U.S. Commercial Service.
Since FY 2007 through July 26, 2012, Ex-Im Bank has authorized approximately $710 million to Minnesota businesses to support $1.4 billion in export sales. Of the 138 exporters who received Ex-Im Bank financing during this period, 88 were small businesses.
About Ex-Im Bank:
Ex-Im Bank is an independent federal agency that helps create and maintain U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. In the past five years, Ex-Im Bank has earned for U.S. taxpayers $1.9 billion above the cost of operations. 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.
Ex-Im Bank approved $32.7 billion in total authorizations in FY 2011 - an all-time Ex-Im record. This total includes more than $6 billion directly supporting small-business export sales - also an Ex-Im record. Ex-Im Bank's total authorizations are supporting an estimated $41 billion in U.S. export sales and approximately 290,000 American jobs in communities across the country. For more information, visit www.exim.gov.