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EXIM Chairman Reed Outlines Trade Finance Tools for Small Businesses in Wyoming and Colorado

Partners with U.S. Commercial Service, U.S. Small Business Administration, and Wyoming Business Council

FOR IMMEDIATE RELEASE September 22, 2020

Media Contact Name/Phone: 

Office of Communications (202-565-3203)

WASHINGTON — Export-Import Bank of the United States (EXIM) President and Chairman Kimberly A. Reed today delivered prerecorded remarks to more than 80 registrants of a webinar hosted in partnership with the U.S. Commercial Service, the U.S. Small Business Administration (SBA), and the Wyoming Business Council, highlighting how businesses can utilize EXIM support to expand their exporting opportunities in challenging times.

 During the virtual event, Chairman Reed underscored how businesses in Wyoming and Colorado, particularly small businesses, can leverage EXIM’s financing tools and resources to increase their international sales, showcase their “Made in the USA” products, and sustain American jobs.

 “EXIM wants to help U.S. exporters in Wyoming and Colorado reach their full potential as they learn how to export and protect their businesses against risks,” said Chairman Reed. “This is what the tools offered by EXIM, the U.S. Small Business Administration, and the U.S. Commercial Service can do in the face of global uncertainty. As the economy recovers and reopens after COVID-19, EXIM can help American businesses achieve their greatest successes ever in the months and years ahead.”

 Others participating in the event were: 

  • Josh Dorrell, CEO, Wyoming Business Council.
  • Paul Bergman, Director, U. S. Export Assistance Center.
  • Leland Gibbs, Export Finance Manager, SBA.
  • Sandra Donzella, EXIM Deputy Managing Director — Western Regional Office.
  • Maureen Whelan, EXIM Business Development Specialist.

 “I am excited for the opportunity to be working with EXIM and our other resource partners to provide our services to the small business community of Wyoming and Colorado as we all look for alternative ways to meet today’s challenges of doing business,” said Leland Gibbs of SBA.

 “The Wyoming Business Council is focused on growing our existing industries to diversify the state’s economy. Exporting is clearly a large, mostly untapped opportunity for Wyoming’s companies, and we’re excited to partner with EXIM and our other federal partners to help Wyoming’s companies grow and diversify,” said Brandon Marshall, Business Development Director for the Wyoming Business Council.

 The speakers outlined opportunities to support small businesses with EXIM’s export financing that can enable them to increase current sales or expand into new markets, with particular focus on the region’s agriculture and mining sectors. By partnering with EXIM, exporters can mitigate the risk of nonpayment on international sales and offer credit terms to foreign buyers, and access working capital loan guarantees. They also underscored EXIM’s COVID-19 (coronavirus) relief measures for U.S. exporters and financial institutions to enhance the agency’s existing programs.

 ABOUT EXIM:

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.