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The Export-Import Bank has very fluid political coalitions, which are comprised of liberal, conservative, and business-oriented Democrats. The Export-Import Bank is also supported by many small, local businesses, who lobby individual members of Congress to increase their understanding of the value of this institution. The Ex-Im Bank is a good example of how one can make an impact on a large institution while remaining an independent voice.
Working capital guarantee
The Export Import Bank of the United States (EXIM Bank) offers a Working Capital Guarantee program designed to provide US exporters with the working capital they need to grow their business. Through the program, US exporters may obtain a working capital loan from a commercial bank with collateral as low as 10% of SBLC value. These loans allow companies to pay off their debts in as little as 60 days, allowing them to keep their cash and expand their business.
Credit insurance
There are two types of export credit insurance (ECI) available. Short-term export credit insurance provides 90-95 percent coverage for goods and services sold for less than 180 days. Medium-term export credit insurance covers large capital equipment for up to five years. Exporters should consider obtaining ECI before the first shipment is made, in order to protect themselves from potential customer problems. However, it is essential to choose the right plan for the type of product that is being exported.
Guarantee of repayment
Export credit insurance is an important tool for a business to compete in the global marketplace. While the Ex-Im Bank is not a traditional bank, it does provide structured finance for existing overseas companies. This financing has long repayment terms of up to 10 years. Power transactions and transportation finance are both based on sectoral understandings under the OECD Arrangement. The Bank also offers loans to small and medium-sized businesses that do not have the cash to fund their own projects.
Statutory requirements
EXIM is looking for public comment on an information collection proposal. As part of the Paperwork Reduction Act of 1995, the EXIM must collect information from borrowers on exports. The proposed collection will help EXIM monitor borrowers’ payments for exported goods. The information will be used to help the EXIM staff manage its portfolio in a timely and informed manner. For more information, visit the EXIM website.
Programs offered
The Export-Import Bank of the United States provides loans, guarantee services, and insurance to U.S. businesses that export goods and services to foreign markets. The bank considers itself an agent for U.S. exporters and works to level the playing field for American products and services in foreign markets. This is an excellent source of funding and can help American companies expand their businesses and create more jobs. To learn more about the programs offered by the Export-Import Bank, continue reading.
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