FOR IMMEDIATE RELEASE November 14, 2019
Office of Communications (202) 565-3201
Washington, D.C. – Kimberly A. Reed, president and chairman of the Export-Import Bank of the United States (EXIM), hosted a roundtable discussion yesterday with U.S. small business leaders and trade associations to examine ways that EXIM can help American companies increase international sales and compete effectively in the global marketplace.
Chairman Reed led the roundtable discussion at EXIM headquarters, where she was joined by Karen Kerrigan, president and CEO, Small Business & Entrepreneurship Council (SBE Council) and chair, Small Business Roundtable (SBR); Rhett Buttle, co-executive director, and Christina Connelly-Kanmaz, coalitions manager, Small Business Roundtable (SBR); Chiling Tong, president and CEO, Asian/Pacific Islander American Chamber of Commerce & Entrepreneurship (National ACE); Richard Garcia, chief of staff, United States Hispanic Chamber of Commerce (USHCC); and Todd McCracken, president, National Small Business Association (NSBA).
They were joined on the phone by small business leaders and advocates along with members of the EXIM 2019 Advisory Committee, Chairman Stevan Pearce, a small business owner and former U.S. congressman from New Mexico; Alex Sanchez, president and CEO of the Florida Bankers Association; and Richard Rogovin, chairman and general counsel of U.S. Bridge, a small business in Cambridge, Ohio.
Also participating from EXIM were James Burrows, senior vice president of small business; Luke Lindberg, senior vice president of external engagement; Stephen Renna, chief banking officer; Amy Shinkman, vice president of export credit insurance; Tamara Maxwell, director of minority- and women-owned outreach; and Mario Ramirez, director of working capital guarantees and lender relations.
“Today’s discussion with small business advocates was productive and insightful, and we explored the unique tools that EXIM offers to small businesses to help them grow and compete when exporting their products to international markets,” said EXIM President and Chairman Kimberly A. Reed. “‘Made in America is the best brand in the world, and EXIM is vital to supporting American jobs by facilitating U.S. exports, including small business and those owned by women and minorities.”
“The global platform-based economy offers explosive growth opportunities for all kinds of small businesses,” said Karen Kerrigan, president and CEO of the Small Business & Entrepreneurship Council and chair of the Small Business Roundtable. “EXIM continues to play a significant role in helping small businesses seize these opportunities, which is why long-term authorization is necessary. The small business community appreciates Chairman Reed’s vision and work to help more small businesses grow, compete, and succeed in the global marketplace.”
“We really appreciate the renewed focus on small businesses from EXIM,” said Todd McCracken, president of the National Small Business Association. “The agency provides an important resource for small business exporters.”
“EXIM Bank provides invaluable support to minority- and women-owned businesses,” said Chiling Tong, president and CEO of the Asian/Pacific Islander American Chamber of Commerce & Entrepreneurship (ACE). “National ACE is proud to work closely with EXIM Bank to help these businesses increase their international sales, improve their cash flow, and minimize the commercial and political risks of doing business globally.”
“We’d like to thank Chairman Reed and her team for the hospitality today and EXIM’s support for small business exports across the country,” said Ramiro Cavazos, president and CEO of the United States Hispanic Chamber of Commerce. “Latino businesses accounted for 86 percent of small business growth from 2007-2012. As these businesses scale, it is crucial to make sure that Latino entrepreneurs have the tools and knowledge that they need in order to access international markets and continue to create wealth in the American economy.”
“SBR was created to bring the small business community and key decision makers together,” said John Stanford, co-executive director of the Small Business Roundtable. “We are thrilled to see that in action as a fundamental institution joined with our CEOs to expand access to markets and capital.”
During the roundtable, EXIM staff members outlined the portfolio of solutions available to support small businesses, including export credit insurance to minimize nonpayment risk and improve cash flow, working capital guarantees to provide credit lines for producing goods and services, and term financing to support international buyers in purchasing American capital goods and services.
“We’re proud of the products we offer for small businesses, and we are taking a comprehensive review of our products and policies to ensure that they align well with the way business is done today,” said Chairman Reed. “We want to be responsive to what small businesses need because we want you to be able to compete in the global marketplace.”
“The tools and products that EXIM offers are important to international trade finance professionals and businesses,” said Alex Sanchez, president and CEO of the Florida Bankers Association. “There’s great value in the strategic partnership between local banks and EXIM, and fostering this relationship will boost U.S. exports.”
“EXIM is dedicated to increasing the number of small businesses exporting goods and services to support U.S. jobs,” said Richard Rogovin, chairman and general counsel of U.S. Bridge. “As a small business owner, the partnerships that EXIM has, and is growing, with local banks, are beneficial to my company, and small businesses like mine throughout America.”
Since EXIM fully reopened with the confirmation of its board quorum on May 9, EXIM has authorized 1,000 small business transactions funding $1.1 billion and supporting 8,800 U.S. small business jobs.
(Left to right) Rhett Buttle, co-executive director, Small Business Roundtable (SBR); Todd McCracken, president, National Small Business Association (NSBA); Chiling Tong, president and CEO, Asian/Pacific Islander American Chamber of Commerce & Entrepreneurship (ACE); Kimberly A. Reed, president and chairman, Export-Import Bank of the United States; Karen Kerrigan, president and CEO, Small Business and Entrepreneurship Council (SBE Council); chair of Small Business Roundtable; Richard Garcia, United States Hispanic Chamber of Commerce (USHCC); Christina Connelly-Kanmaz, Small Business Roundtable.
ABOUT EXIM BANK:
EXIM is an independent federal agency that promotes and supports American jobs by providing competitive and necessary export credit to overseas purchasers of U.S. goods and services. 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.