Export-Import Bank of the United States Board of Directors Approves $63 Million for Spirit AeroSystems, Inc.; Supports 400 U.S. Jobs
WASHINGTON – The Export-Import Bank of the United States (EXIM) Board of Directors today unanimously approved a final commitment to renew a 90 percent guarantee of a $70 million facility for Bank of America and Spirit AeroSystems, Inc. under EXIM’s supply chain finance guarantee program, totaling $63 million in EXIM support. The transaction is expected to support approximately 400 U.S. jobs across the aerospace supply chain in North Carolina and Kansas. The facility will also support 40 participating suppliers, of which more than 90 percent are small businesses.
“Today’s Board action demonstrates EXIM’s dedication to supporting American companies, especially small businesses,” said EXIM President and Chair Reta Jo Lewis. “EXIM support for aviation transactions supports America’s aerospace competitiveness, and with it, the more than two million good-paying jobs across the aerospace supply chain. These jobs and the aerospace industry are very important to sustaining America’s economic prosperity and national security.”
The EXIM Board of Directors also welcomed its newest Board Member, Owen Herrnstadt, who was sworn in on July 15, 2022. Through the leadership of President Joe Biden, Director Herrnstadt joins EXIM President and Chair Lewis, First Vice President and Vice Chair Judith DelZoppo Pryor, and Director Spencer Bachus to form a four-person Board quorum.
ABOUT EXIM:
The Export-Import Bank of the United States (EXIM) is the nation’s official export credit agency with the mission of supporting American jobs by facilitating U.S. exports. To advance American competitiveness and assist U.S. businesses as they compete for global sales, EXIM offers financing including export credit insurance, working capital guarantees, loan guarantees, and direct loans. As an independent federal agency, EXIM contributes to U.S. economic growth by supporting tens of thousands of jobs in exporting businesses and their supply chains across the United States. Since 1992, EXIM has generated more than $9 billion for the U.S. Treasury for repayment of overall U.S. debt. Learn more at www.exim.gov.