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We Listened

12.15.15: Changes to the New Exporters Certificate

Thank you to the lenders and exporters who shared their ideas on how to improve the exporter certificates for our medium- and long-term programs. Thanks to your input, we made two changes:

 1.      The debarment language has been changed to clearly state that, in order to be compliant with the certification, exporters are responsible for checking only their own direct suppliers and vendors.

2.      The certifications were moved to an outside document that is maintained on EXIM.gov. This change allows us to keep our certifications current. Take a look at the new form here: //www.exim.gov/sites/default/files/forms/eib11-05.pdf

 As always, we appreciate our customers’ feedback and hope these changes help to improve the ease of doing business for our customers.

Cycle Times

EXIM works with and listens closely to its customers and partners to better meet their needs and deliver on the promise of offering “government at the speed of business.”  Transaction processing times are an important standard toward that goal—a quantifiable, measurable way of monitoring how efficiently EXIM is serving its customers against its performance goals.  The following chart outlines average cycle times, from application to decision, for EXIM’s major products and claims for FY2015.

Term

Product

FY2015 Average Days from Application to Decision

FY2014 Average Days from Application to Decision

Short-Term

Express Insurance

13

11

FB

45

50

Multi-buyer

21

18

Short-term single buyer

14

16

Working capital delegated authority

24

19

Medium-Term

Medium-term loan guarantee

81

82

Medium-term insurance

51

52

Long-Term

Long-term loan guarantee

158

147

Long-term loan

181

295

Project finance

757

321

Claims

 

45

44

For more information on Ex-Im Bank’s cycle time service standards and targets please refer to the Bank’s Government Performance and Reporting Act reports.

While processing times vary according to the product, dollar amount, and complexity of the transaction or claim, the best way to ensure that an application is handled in a timely fashion is to provide a complete and technically correct application.  Slowdowns will occur if Ex-Im Bank’s staff needs to reach out to customers to obtain more information about their business or transaction. For most programs, a minimum amount of information is necessary for Ex-Im Bank’s team to begin work.
   

Tips for Submitting and Expediting Applications

 

Customer FAQs about working with Ex-Im Bank

I own a small business. How do I know if my business qualifies for Ex-Im Bank insurance and/or loan guarantee products?

The following are a few general guidelines for qualifying for Ex-Im Bank support:

  • You must have been in business for at least three years.
  • Products/services must comply with Ex-Im Bank’s Content, Military, and EXIM Bank Policies.
  • Products must be shipped from the United States.
  • Destination countries must be eligible for Ex-Im Bank-supported transactions (refer to Ex-Im Bank’s Country Limitation Schedule).
  • You must be able to provide financial statements or tax returns for at least one year.

 If your business and products meet the general guidelines, you are encouraged to contact a regional office for further counseling.

I own a small business. How do I start an application for export credit insurance?

Export-ready applicants are strongly encouraged to begin by seeking assistance from either an export finance manager at one of Ex-Im Bank’s field staff offices or an Ex-Im Bank qualified insurance broker. Brokers provide a number of valuable services to existing and prospective customers, and they receive their compensation from commissions paid by Ex-Im Bank—there is no charge to the policyholder. Application forms are located here.