FOR IMMEDIATE RELEASE April 10, 2011
Adrian Gianforti (202-565-3200)
Garden City, New York - Today the Export-Import Bank of the United States (Ex-Im Bank) and the Congresswoman Carolyn McCarthy (NY-4), co-sponsored a Global Access for Small Business forum. Over 100 representatives of New York small businesses participated in the forum to learn how to export more goods and services.
Today's forum was another great example of how Ex-Im Bank works to ensure the success of American small businesses by providing the right resources and tools to fuel job creation and access to export markets, said Fred P. Hochberg, chairman and president of the Bank. As Ex-Im Bank hosts more of these forums, we are better understanding our customers and addressing their needs in a meaningful way.
Panel discussions featured success stories by local small-business owners and presentations by regional representatives of federal agencies, including Ex-Im Bank, the SBA and the U.S. Export Assistance Center (USEAC) of New York. Attendees also received one-on-one trade counseling.
Global Access for Small Business is Ex-Im Bank's new initiative to help more than 5,000 small companies across the United States grow through exporting more goods and services produced by U.S. workers. It is an integral part of President Obama's National Export Initiative (NEI) mission being led by the Commerce Department to double U.S. exports by 2015.
Small businesses and entrepreneurs are the engine of our economy on Long Island and I'm doing everything I can to help them grow and prosper, Rep. McCarthy said. Selling local goods and services to foreign markets is a great way to expand a business and the federal government has resources to help people do that.
Global Access is supported by a wide variety of business, financial and government partners, including the U.S. Chamber of Commerce and the National Association of Manufacturers (NAM), and the Bank's 60-plus City/State Partners located throughout the U.S.
This year, Ex-Im Bank is planning to hold approximately 20 Global Access forums around the country. For more information, see Global Access for Small Business on the Bank's home page at www.exim.gov.
Ex-Im Bank is an independent federal agency that helps create and maintain 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 loan guarantees, export-credit insurance, and financing to help foreign buyers purchase U.S. goods and services.
Ex-Im Bank is self-sustaining and is able to cover all operating costs and potential losses while also producing revenue. The Bank has generated $3.4 billion for U.S. taxpayers over the past five years.
During the first quarter of fiscal year 2011, the Bank approved $8 billion in total financing authorizations, supporting nearly $9.3 billion in U.S. export sales. These sales will support approximately 66,000 American jobs in communities across the country.