FOR IMMEDIATE RELEASE September 29, 2020
Office of Communications (202-565-3203)
WASHINGTON – In August 2020, the Export-Import Bank of the United States (EXIM) approved 169 small business authorizations totaling $209.8 million in 36 states and the District of Columbia that export “Made in the USA” products around the world, in support of an estimated 800 American jobs, according to the agency’s preliminary estimates.
“As our nation's economy continues to reopen with a renewed emphasis on creating American jobs, EXIM remains focused on ensuring small businesses succeed in exporting their ‘Made in the USA’ goods and services around the world,” said EXIM President and Chairman Kimberly A. Reed. “EXIM underscored that commitment during our recent Annual Conference by offering the first-ever small business track and by signing memorandums of understanding with the Minority Business Development Agency and the United States Department of Agriculture. Assisting our small businesses grow and thrive through exporting is a top priority, and we continue to encourage small business exporters to reach out directly to EXIM.”
The small business authorizations are posted online. In addition, of that $209.8 million in small business authorizations, $25.6 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 more than 2,000 small business transactions.
Nearly 90 percent of EXIM’s total 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. EXIM also recently extended measures to assist U.S. exporters and financial institutions located in states that may be declared federal disaster areas by the Federal Emergency Management Agency (FEMA) due to the effects of recent hurricanes or wildfires. 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.