Export-Import Bank of the United States Releases July 2022 Small Business Authorization Data
WASHINGTON – As part of the Export-Import Bank of the United States’ (EXIM) commitments to transparency and supporting America’s small businesses, the agency today released authorization data for small business transactions in July 2022. EXIM approved 138 authorizations totaling $147.5 million for small businesses that export American goods and services around the world, an increase of $4.7 million over the previous month. Small business authorizations for July also include $33.8 million in support of minority- and women-owned businesses, an increase of more than $7 million from June.
To date in FY 2022, EXIM has authorized more than $1.19 billion in small business transactions, which account for nearly 26 percent of the agency’s total authorizations. For FY 2021, small business authorizations totaled more than $1.6 billion, representing 28.2 percent of total authorizations. Historically, nearly 90 percent of the total number of EXIM’s authorizations directly benefit U.S. small businesses.
This month, we’re highlighting Taliah Waajid, a natural hair care company based in Atlanta. Started when the owner was 14 years old, Taliah Waajid was the first brand to offer a complete line of natural, chemical-free hair care products. Taliah Waajid has used EXIM’s export credit insurance to grow their business, expanding into four international markets. “We turned down a lot of business internationally because of the risk. We were able to get a lot of international business because of EXIM,” said founder, Taliah Waajid. “It’s been very helpful for us because we’re able to grow our business and have a sense of comfort knowing we’re going to get paid.” Since 2018, EXIM has provided more than $11,500 in support for their business.
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 U.S. debt. Learn more at www.exim.gov.