EXIM Approved 162 Small Business Authorizations Totaling $167.4 Million and Supporting 600 U.S. Jobs in July 2020
WASHINGTON - In July 2020, the Export-Import Bank of the United States (EXIM) approved 162 authorizations totaling $167.4 million in support of an estimated 600 American jobs at small businesses in 37 states and one territory that export "Made in the USA" products around the world, according to the agency's preliminary estimates.
"As our nation's economy safely reopens with a renewed focus on creating American jobs, EXIM remains ready to help small businesses succeed in exporting their wonderful 'Made in the USA' goods and services to the global marketplace," said EXIM President and Chairman Kimberly A. Reed. "These authorizations signal EXIM's robust commitment to assisting our small businesses grow and thrive through exporting. We continue to encourage small business exporters to reach out directly to EXIM."
The small business authorizations are posted online. In addition, of that $167.4 million in small business authorizations, $18.4 million went to support minority and women-owned business. To date, since May 2019, when a quorum of the Board of Directors was restored, EXIM has authorized 2,369 small business transactions totaling more than $2.3 billion and supporting thousands of U.S. jobs.
Nearly 90 percent of EXIM's authorizations directly support small businesses, and as part of EXIM's recent reauthorization, Congress directed EXIM to build on the agency's robust support of small business even further.
In addition to EXIM's financial tools and resources, since the onset of the COVID-19 (coronavirus) pandemic, the agency has announced a series of relief measures for U.S. exporters and financial institutions, including U.S. small businesses. Complete information is available on EXIM's coronavirus response page. Please contact EXIM for more small business exporter support.
EXIM is an independent federal agency that promotes and supports American jobs by providing competitive and necessary export credit to support sales of U.S. goods and services to international buyers. 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, approximately 90 percent of the total number of the agency's authorizations has directly supported small businesses. Since 1992, EXIM has generated more than $9 billion for the U.S. Treasury for repayment of U.S. debt.
For more information about EXIM, please visit www.exim.gov.