The Export-Import Bank’s core mission is to help businesses grow and create American jobs by helping companies—small, medium, and large—see the growth potential of exporting goods and services.
Seven out of every ten Greater Phoenix Chamber of Commerce members are small businesses owners, many of whom don’t even consider exploring developing their business to include an export model. The Ex-Im Bank can give those small businesses help and guidance when they do decide to become exporters.
The Ex-Im Bank works hard for small businesses by providing them with certainty and protection that allows business owners to enter new markets, expand operations and create jobs. In 2013 Ex-Im supported 3,413 small business transactions worth $11.7 billion. In the past five years, it financed more small business transactions than in the previous 11 years combined.
This is why it’s more important than ever that the business community supports the Ex-Im Reauthorization. If Congress doesn’t act to reauthorize the Ex-Im Bank by September 30, 2014, the bank will no longer be able to support American businesses and create jobs for this country.
The Ex-Im Bank offers flexibility to small businesses owners with a variety of programs that help businesses have confidence and security when moving into the export arena.
- Trade Credit: Reduces risk of nonpayment by a foreign buyer and allows small businesses to offer extended repayment terms.
- Working Capital Loan guarantees: Allows small businesses to cover costs like payroll, overhead, and inputs while they wait to get paid from overseas customers.
- Global Credit Express working capital loans: Provide direct financing to eligible small businesses when conventional private financing isn’t available.