EXIM's mission is American jobs
EXIM is an independent federal agency that was created to support American jobs by facilitating the export of U.S. goods and services. EXIM supported more than 1.7 million jobs in all 50 states over the last decade.
EXIM is governed by a Board of Directors
EXIM has a five-member Board of Directors to consider individual transactions, policies, and other business that may arise. A minimum of three members is required to have a quorum; without a quorum, the Board of Directors cannot consider medium- and long-term transactions exceeding $10 million.
Due to a lack of quorum on the Board of Directors, EXIM is not able to provide full support for American jobs and the U.S. exports that create them.
EXIM has a history of strong bipartisan support
EXIM has been reauthorized by large bipartisan majorities in Congress 16 times and supported by 13 U.S. presidents. EXIM’s most recent reauthorization extended its authority through September 30, 2019.
EXIM is critical to small businesses
Small business exporters need certainty and protection to tackle new markets, expand, and create jobs. In FY 2017, over 90 percent of EXIM Bank's transactions - more than 2,200 - directly supported exports from American small businesses.
EXIM responsibly manages risk
As reported to Congress, EXIM's active default rate was 0.307% as of September 30, 2017. EXIM is committed to effective risk management and maintains prudent reserves to cover potential losses.
EXIM is vital to countering aggressive foreign competition
With approximately 95 other export credit agencies around the world trying to win jobs for their own countries, EXIM helps level the playing field for American businesses. "Made in America" is still the best brand in the world, and EXIM ensures that U.S. companies never lose out on a sale because of attractive financing from foreign governments.
EXIM does not compete with the private sector
EXIM fills export financing gaps through its insurance, guarantee, and direct lending programs when the private sector is unable or unwilling to do so. At the same time, private sector lenders are EXIM’s partners and often work directly with EXIM to ensure exporters can access the capital they need to compete overseas. The vast majority of EXIM transactions directly involve commercial financial institutions.