Thus Far in 2020, EXIM has Approved $272.8 million in Authorizations in Support of 378 Minority and Women-Owned Businesses
FOR IMMEDIATE RELEASE September 18, 2020
Office of Communications (202) 565-3207
WASHINGTON — As Minority Enterprise Development Week comes to a close, Export-Import Bank of the United States (EXIM) President and Chairman Kimberly A. Reed today highlighted the agency’s efforts assisting minority-owned businesses. To date, in FY2020, EXIM has approved approximately $272.8 million in authorizations in support of 378 minority and women-owned businesses (MWOBs). The top three industries that EXIM’s MWOB exporters represent are manufacturing, aircraft, and services.
“As President Trump said, ‘we will do everything in our power to assist minority-owned businesses as our Nation continues our economic resurgence,’ and things at EXIM are no different,” said Chairman Reed. “One of my top priorities is ensuring that American exporters and businesses, including minority-owned businesses, have access to and learn more about the products EXIM has to offer so they can remain competitive in the global marketplace.”
EXIM provides support to MWOBs through a dedicated group of specialists that work exclusively with MWOBs. This team provides hands-on guidance on how to qualify and offers advice on trade finance that levels the playing field with foreign competition. Learn more about the variety of trade finance products that EXIM’s offers HERE.
EXIM recently signed a Memorandum of Understanding with the U.S. Department of Commerce Minority Business Development Agency announcing a three-year collaborative effort to promote EXIM export financing products among minority business enterprises (MBEs). The initiative will facilitate engagement between EXIM and MBDA, thereby leading to expanded opportunities for minority-owned businesses to export their “Made in the USA” products and support more American jobs.
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.