Since May 2019, EXIM Has Authorized More Than 2,000 Small Business Transactions, Supporting Thousands of U.S. Jobs
FOR IMMEDIATE RELEASE September 25, 2020
Office of Communications (202-565-3207)
WASHINGTON – As National Small Business Week comes to a close, Export-Import Bank of the United States (EXIM) President and Chairman Kimberly A. Reed today highlighted the agency’s support for America’s great small businesses, and the workers they employ. Since the Board quorum was restored in May 2019, EXIM has authorized more than 2,000 small business transactions in support of thousands of U.S. jobs.
“As President Trump stated, the entire Administration ‘remains intensely focused on helping every American enterprise remain viable, recover, and once again, thrive at historic levels.’ This could not be truer at EXIM,” said Chairman Reed. “America’s small businesses are the driver of our nation’s economic success, especially as we recover from the COVID-19 pandemic. One of my top priorities is ensuring America’s small businesses remain competitive in the global marketplace, and I am committed to working with my colleagues across the Administration to meet this goal.”
EXIM’s 2020 Annual Conference included the first-ever small business track, designed to provide small business owners with practical instruction on how to use exporting to be even more successful, minimize risk in the global marketplace, and support American jobs. EXIM also honored 13 small businesses as Exporters of the Year during the Annual Conference. EXIM has also recently signed memorandums of understanding with the Minority Business Development Agency, the United States Department of Agriculture, the National Association of Federally-Insured Credit Unions, and the National Credit Union Administration.
Thus far in 2020, EXIM staff has participated in more than 120 outreach teleconferences and webinars in 54 U.S. states, territories, and the District of Colombia designed to educate small business owners on how EXIM support can enable them to expand their business globally.
On March 12, EXIM extended program waivers, extensions, and other provisions to U.S. customers and lenders amid the COVID-19 outbreak to provide necessary relief for small business customers affected by the pandemic. The agency has repeatedly extended those temporary relief measures, in support of small business exporters.
On September 4, EXIM adopted new standards to expand the number of U.S. small businesses that qualify for EXIM products, upon authorization from the Small Business Administration.
Small business owners can learn more about EXIM’s products and services, or request a consultation, here.
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.