“All America Initiative” Outreach Continues to Raise Awareness About EXIM’s Commitment to and Tools for U.S. Small Business Exporters
FOR IMMEDIATE RELEASE December 15, 2020
Office of Communications (202) 565-3203
WASHINGTON – In September 2020, the Export-Import Bank of the United States (EXIM) approved 194 small business authorizations totaling $523 million in 36 states and the District of Columbia that export “Made in the USA” products around the world, in support of an estimated 2,000 American jobs, according to the agency’s preliminary estimates.
“Supporting U.S. small business is a top priority for me. EXIM recently released its FY 2020 Agency Management Report, showing that EXIM’s small business authorizations totaled more than $2 billion over the past year—or 38.6 percent of the total authorization amount, which exceeds the agency’s charter threshold of 25 percent,” said EXIM President and Chairman Kimberly A. Reed. “EXIM remains focused on ensuring small businesses succeed in exporting their ‘Made in the USA’ goods and services around the world – and supporting the American jobs that make them possible. We continue to encourage small business exporters to reach out directly to EXIM.”
The small business authorizations are posted on EXIM’s website. In addition, of that $523 million in small business authorizations, $44 million went to support minority- and women-owned businesses. Since May 2019, when a quorum of the Board of Directors was restored, EXIM has authorized more than 2,700 small business transactions through Sept. 30, 2020.
Nearly 90 percent of the total number of EXIM’s authorizations directly support U.S. 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.
Over the past year, EXIM’s “All America Initiative” has reached, educated, and informed U.S. companies of all sizes — particularly small businesses — about how they can utilize EXIM’s financial tools and resources to increase their international sales, showcase their “Made in the USA” products, and sustain American jobs. In FY 2020, Chairman Reed and Board Members Judith D. Pryor and Spencer Bachus III, along with EXIM staff members, held events in all 50 U.S. states, the District of Columbia, and five U.S. territories — meeting with companies, Regional Export Promotion Program (REPP) members, chambers of commerce, state and local governments, economic development agencies, small business development centers, trade associations, and other organizations. And, in the months ahead, EXIM will continue this important All America nationwide outreach effort to further build awareness about increasing EXIM’s small business support.
In addition, 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.