FOR IMMEDIATE RELEASE August 1, 2016
Office of Communications (202-565-3200)
Washington, D.C. – Today the Export-Import Bank of the U.S. (EXIM) announced the launch of its Regional Export Promotion Program (REPP), a joint effort between EXIM and regional organizations with a view to stimulating U.S. export sales abroad and bolstering job growth at home.
The program, which already boasts 38 members across 26 states and two U.S. territories, is welcoming applications from potential members.
“Since 2009, EXIM has demonstrated a historic commitment to small business exports, and our local partners were key contributors to that success,” said Fred P. Hochberg, chairman and president of EXIM. “Through REPP, the Bank will continue to grow our network of regional, state, and local partnerships we need to ensure small businesses have additional tools and access to U.S. Government resources for exporters.”
Benefits of the program for companies, especially small businesses, include assistance with outreach and counseling; introduction to marketing and training materials; and access to qualified finance experts, lenders, insurance brokers, and U.S. Government export resources.
The Alabama International Trade Center, for example, assists small businesses in Alabama to enter foreign markets and expand their export sales and is part of The University of Alabama’s efforts to boost the state’s economic development.
“The Alabama International Trade Center at The University of Alabama has a thirty-five year history of working with EXIM Bank programs, and we look forward to growing that relationship with the new Regional Export Promotion Program,” said Bill Cummins, executive state director of the Alabama Small Business Development Center Network. “I’ve seen first-hand how EXIM programs really help small businesses grow their international sales, create jobs, and improve Alabama’s economy.”
Organizations eligible for membership include local, regional, or state economic development organizations or World Trade Centers that assist small businesses.
For more information on joining the program, please visit the REPP application page at //www.exim.gov/who-we-serve/repp.
ABOUT EX-IM BANK:
EXIM is an independent federal agency that supports and maintains U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. The Bank provides a variety of financing mechanisms, including working capital guarantees and export credit insurance, to promote the sale of U.S. goods and services abroad. Almost ninety percent of its transactions directly serve American small businesses.
In fiscal year 2015, EXIM approved $12.4 billion in total authorizations. These authorizations supported an estimated $17 billion in U.S. export sales, as well as approximately 109,000 American jobs in communities across the country.