FOR IMMEDIATE RELEASE September 18, 2014
Office of Communications (202-565-3200)
Washington, D.C. - Chairman and President of the Export-Import Bank of the United States (Ex-Im Bank) Fred Hochberg recently traveled to Indiana to tour a local small-business facility as part of the Bank's ongoing efforts to boost small-business exports.
Trilithic Inc., based in Indianapolis, offers telecommunications solutions for the implementation and maintenance of voice, data and video services around the world. The company exports broadband instruments, emergency alert systems, and technical tools for contractors and installers. Founded in 1987 with 2 employees, Trilithic now employs 115 people in the U.S.
company's annual sales have increased 350 percent since exporting,
and exports now account for 40 percent of total revenue
Trilithic began using Ex-Im Bank's credit insurance in 1993. The company has since expanded its export reach to South America, Asia, and Western Europe. Annual sales have increased 350 percent since exporting, and exports now account for 40 percent of total revenue.
Ex-Im allows Trilithic to leverage the asset value of the receivables created through our export activities, said Jeffrey Hale, president of Trilithic. Without Ex-Im's insurance program providing collection assurance to our commercial banking partner, Trilithic would not be able to access the working capital funding the creation of these receivables requires.
ABOUT EX-IM BANK:
Ex-Im Bank is an independent federal agency that creates 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, export-credit insurance and financing to help foreign buyers purchase U.S. goods and services. In the past fiscal year alone, Ex-Im Bank earned for U.S. taxpayers more than $1 billion above the cost of operations.
In FY 2013, Ex-Im Bank approved more than $27 billion in total authorizations to support an estimated $37.4 billion in U.S. export sales and approximately 205,000 American jobs in communities across the country. For the year, the Bank approved a record 3,413 transactions-- or 89 percent--for small-businesses. Small business exporters can learn about how Ex-Im Bank products can help them increase foreign sales at http://go.usa.gov/ZVTd. For other information about Ex-Im, visit www.exim.gov.