Facebook pixel

EXIM Approved 186 Small Business Authorizations Totaling More Than $173 Million and Supporting 900 U.S. Jobs in April

EXIM Extends COVID-19 Relief Measures to Continue Assisting U.S. Small Businesses During Ongoing Pandemic

FOR IMMEDIATE RELEASE May 28, 2020

Media Contact Name/Phone: 

Office of Communications (202) 565-3203

WASHINGTON – In April, the Export-Import Bank of the United States (EXIM) approved 186 authorizations totaling $173.3 million in support of 900 American jobs at small businesses that export “Made in the USA” products around the world, according to the agency’s preliminary estimates.

This total includes $170.7 million of short-term authorizations and $2.6 million of medium-term authorizations supporting small businesses.

“We want to help American small businesses succeed in reopening and getting back to work,” said EXIM President and Chairman Kimberly A. Reed. “To assist our small businesses in this effort, EXIM has extended the relief measures we introduced in March until August 31. We continue to encourage small-business exporters to reach out directly to EXIM if they need assistance.”

In recent years, nearly 90 percent of EXIM’s authorizations have supported 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 an effort to increase awareness and transparency about this strengthened commitment to small business, EXIM now publishes online a complete list of transactions since a quorum of the Board of Directors was restored in May 2019. Below is a summary of overall small-business activity in April.

Since the onset of the COVID-19 (coronavirus) pandemic, EXIM has announced a series of relief measures for U.S. exporters and financial institutions, including U.S. small businesses. On May 21, 2020, the agency announced it would further extend that assistance through August 31. Complete information is available on EXIM’s coronavirus response page. Please contact EXIM for more small-business exporter support.

To see how small businesses from every state are using EXIM products, view success stories online.

EXIM Authorizations April 2020

EXIM Product

Total
(in millions)

Short-Term
(in millions)

Medium-Term
(in millions)

Long-Term (in millions)

Export Credit Insurance

$ 222.2

$ 219.2

$ 3.0

Working Capital Guarantees

$ 32.4

$ 32.4

Guarantees and Loans

$ 27.2

$ 27.2

Total

$ 281.8

$ 251.6

$ 30.2

Small Business/MWOB

       

Small Business

$ 173.3

$ 170.7

$ 2.6

Minority and Women-Owned Business

$ 20.9

$ 20.0

$ 1.0

Top Industry

       

Manufacturing

$ 105.0

$ 102.9

$ 2.1

ABOUT EXIM:

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.