FOR IMMEDIATE RELEASE November 11, 2020
Office of Communications (202-565-3207)
WASHINGTON – Export-Import Bank of the United States (EXIM) Chairman Kimberly A. Reed today highlighted EXIM’s work as it relates to supporting veteran-owned businesses.
“Our nation’s veterans have contributed and sacrificed so much in defense of our country, and I want these great heroes to know that EXIM has a variety of tools to support their businesses and expand their sales beyond our borders, ,” said EXIM Chairman Reed. “As was underscored in EXIM’s historic Congressional reauthorization signed into law by President Trump on December 20, 2019, veteran-owned small businesses play an important role in supporting and providing American jobs, and EXIM will assist these veterans as they think about exporting high-quality ‘Made in the USA’ goods and services around the globe. As we mark this important day, I also want to recognize and thank EXIM Board Member and veteran Spencer Bachus for his leadership on veteran and small business issues at EXIM.”
EXIM’s 2019 reauthorization directs the agency to educate veteran-owned small businesses about how to exports goods using the agency. EXIM has a team dedicated to supporting and collaborating with veteran-owned businesses and EXIM can empower veteran-owned businesses to grow by providing the financial tools to win sales worldwide. EXIM supports veteran-owned businesses through several ways including protection from nonpayment through export credit insurance, which covers commercial and political non-payment risks, extensions of credit, and working capital loan guarantees.
“I have used EXIM for 23 years, and it is the single most important decision I have made in international business. EXIM credit insurance provides protection for small businesses to avoid non-payment issues in foreign markets. It has saved me from significant financial difficulties, and it would be an enormous oversight not to use this wonderful service,” said Craig Carson, owner and CEO, Jeco Plastic Products, LLC.
Jeco Plastic Products was established in 1973 in Plainfield, IN, and their high tolerance custom products have been sold on every continent. Jeco Plastics makes products for foreign and domestic customers in the printing, automotive, aerospace and defense industries.
Recently, EXIM staff have participated in events in support of veteran-owned businesses including the National Veteran Business Development Council’s Corporate Veterans in Supplier Diversity Panel – the largest collection of corporations and certified veteran business owners in one location – as well as a webinar event with LiftFund and the U.S. Small Business Administration to discuss financial strategies for women veteran entrepreneurs.
Additionally, on Veterans Day 2020, a member of EXIM’s staff will be attending a webinar exclusively for Hispanic veteran-owned businesses featuring the U.S. Hispanic Chamber of Commerce, the New Jersey Veterans Chamber of Commerce, and the San Antonio Hispanic Chamber of Commerce, and, on November 12, 2020, a staffer will be speaking at the Veterans Institute for Procurement. Chairman Reed also announced EXIM’s partnership with Department of Defense’s SkillBridge Program to give U.S. military service members additional job experience opportunities at EXIM for post-military careers.
EXIM is an independent federal agency that promotes and supports American jobs by providing competitive and necessary export credit to support sales of U.S. goods and services to international buyers. A robust EXIM can level the global playing field for U.S. exporters when they compete against foreign companies that receive support from their governments. EXIM also contributes to U.S. economic growth by helping to create and sustain hundreds of thousands of jobs in exporting businesses and their supply chains across the United States. In recent years, approximately 90 percent of the total number of the agency’s authorizations has directly supported small businesses. Since 1992, EXIM has generated more than $9 billion for the U.S. Treasury for repayment of U.S. debt.
For more information about EXIM, please visit www.exim.gov.