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Today, many exporters – large, medium, and small — struggle to secure the financing they need to compete internationally. Often, companies find themselves in a position where private financing alone is not an option. That is where the Export-Import Bank of the United States (EXIM), America’s official export credit agency, is stepping in with its powerful tools to help address the gaps in financing U.S. exports.
With a mission of supporting American jobs by facilitating U.S. exports, EXIM helps companies across nearly all sectors with export finance solutions designed to help them succeed, grow, and win. Our mandate allows us to authorise transactions of all sizes, from as small as a few thousand dollars to deals worth hundreds of millions.
Since our establishment 89 years ago, EXIM has played a critical role in fostering economic opportunity for U.S. companies and for partner nations that American companies do business with around the world.
We offer direct loans, loan guarantees and insurance products, backed by the full faith and credit of the United States, to support the export of U.S. goods and services. Those products can directly translate to export growth.
One customer, an Arizona-based engineering firm who began using EXIM’s working capital loan guarantee in 2005, has now exported a total of $55 million in goods and services, increased their revenue, and expanded into multiple markets worldwide.
EXIM has several congressional mandates, which focus on providing financing to small businesses, supporting exporters looking to do business across sub-Saharan Africa and promoting transformational exports across various sectors, including telecommunications and renewable energy.
Our agency’s commitment to sub-Saharan Africa runs deep, and that is why our work is centred on supporting U.S. exporters, both large and small, looking to do business around the world. Today, EXIM is open for business in most countries in sub-Saharan Africa and has authorised numerous transactions in this region across a wide variety of sectors.
On June 1, EXIM’s Board of Directors approved a historic $900 million transaction that will build two solar energy power plants in Angola, the agency’s largest renewable energy project to date. Over the past 20 years, EXIM has supported nearly $20 billion for projects with African nations. As the agency continues to advance this core mandate and expand efforts throughout the region, the central goal should be to create new opportunities with Africa for U.S. exporters.
At EXIM, we recognise the critical role that small businesses play in shoring up supply chains and promoting economic growth globally. On average, nearly 90% of the transactions EXIM processes, and 30% of the agency’s total portfolio support small businesses.
During the last fiscal year, 87% of EXIM transactions directly benefited U.S. small business exporters and 33% of total direct export value supported was for small businesses.
Informed by the recommendations of EXIM’s Council on Small Business, which provides feedback on ways the agency can help find new opportunities for U.S. exporters while striving to externalise the risks associated with doing business internationally, we work to provide quality products that will bolster U.S. small business exporters.
In addition to advancing the agency’s central mandates, we recognise that prioritising and advancing women and gender equity in trade finance is critical. EXIM is dedicating significant time and resources to ensure that women-owned businesses have the tools they need to grow and thrive through exporting.
A direct result of some of that work can be seen by looking at a woman-owned rubber band manufacturer based in Arkansas. An EXIM export credit insurance policy holder since 2007, the company has now exported over $22 million to more than 60 countries.
Further, EXIM’s Minority and Women-Owned Business Division (MWOB) works to educate companies that are owned by minorities, women, veterans, people with disabilities, and the LGBTQ+ community, along with rural and startup businesses, about EXIM’s programs and help guide them through the application process.
The division also works closely with organisations that have a women-owned or minority trade focus to create opportunities for MWOB businesses. The MWOB division, in combination with EXIM’s comprehensive products and services, can play a strong role in helping all entrepreneurs realise their full potential.
EXIM understands there is no single solution to the challenges that many U.S. businesses face. And that is why we provide holistic financing solutions that we know are helping U.S. companies compete.
Through a variety of products, services, and specialised divisions designed to address the problems that different exporters are confronted with, EXIM is uniquely positioned to help ensure that U.S. exporters and their customers overseas have the tools they need to not only compete in the global marketplace but to win as well.
