State Trade-Finance Organization Referred 18 Small Businesses to EXIM, Resulting in $400,000 of EXIM Support in 2020
FOR IMMEDIATE RELEASE September 23, 2021
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WASHINGTON –Today, the Export-Import Bank of the United States (EXIM) again awarded a state trade-finance organization, the Florida Export Finance Corporation (FEFC), headquartered in Miami, Florida, as EXIM’s 2021 REPP of the Year. EXIM’s Regional Export Promotion Program, known as REPP, enlists state and local organizations as members to enable EXIM to reach more companies—especially small businesses—and help them achieve greater success in export markets. EXIM presented the award during EXIM’s 2021 Annual Conference held virtually September 21-23.
FEFC—a third-time winner of EXIM’s REPP of the Year award—is a longtime member of EXIM’s REPP program and is one of the most active in recent years. In FY 2020, FEFC referred 18 small businesses to EXIM, which resulted in authorizations totaling $400,000. FEFC’s strong commitment to providing export assistance for small business owners is one of the keys to the organization’s success.
“EXIM strives to directly reach as many U.S. small business exporters as possible, but local trade organizations often have greater knowledge of their markets and companies, and their business relationships are very effective,” said EXIM Business Development Officer Aerek Stephens, who presented the award to FEFC. “We are grateful to have the opportunity to work with the Florida Export Finance Corporation and other REPP members that provide invaluable local assistance to EXIM’s customers. We look forward to a bright future continuing to work together to enable more small businesses to grow and add jobs by expanding their exports.”
“EXIM’s assistance gives Florida’s small-to-medium-sized enterprises that are exporting the opportunity to realize the entrepreneurship dream. Small manufacturers in our state benefit from EXIM’s risk mitigation programs like no other. Extending credit terms to foreign buyers is important to small businesses, but their knowing that they will get paid and eliminating the burden of uncertainty from their daily business activities is even more important. Without it, export growth would be limited,” said FEFC President and CEO Daisy Ramos.
The Florida Export Finance Corporation or FEFC was created by the state of Florida in 1993 as a not-for-profit corporation with a mandate to expand employment and income opportunities to Florida residents by increased exports of goods and services. The organization also connects Florida exporters with EXIM and the U.S. Small Business Administration.
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.