What Is the Export-Import Bank of the United States?

The Export-Import Bank of the United States, also referred to as Ex-Im Bank, supports the financing of U.S. exported goods and services – turning international opportunities into real, legitimate sales – a great revenue booster for small businesses!

Exim Bank assists in addressing two critical areas for big and small businesses:

1. How to borrow money.

Exim Bank’s Working Capital Guarantee allows you to buy the materials you need to start exporting, cover operating and overhead expenses and even provide cash for international receivables.

Complicated as it may sound, by securing financing for your global customers, Exim Bank’s insurance policy allows you to extend reasonable credit to your buyers. Hence, you can become a lot more competitive in the global marketplace!

2. How to get paid.

Exim Bank enables you to extend credit, reduce risk and even finance your accounts receivable when selling overseas to a single international buyer or multiple international customers with its Single-Buyer Credit Insurance, Standard Multi-Buyer Credit Insurance, or Small Business Multi-Buyer Credit Insurance policies.

The Export-Import Bank fills a big financing void by commercial lenders and insurers who typically don’t support small businesses in the important area of international trade financing.

For more information, visit the links below.

Note:  Since the writing of this article, the Export-Import Bank of the United States has had a lapse in its authority.

 As of July 1, 2015, the Bank is unable to process applications or engage in new business or other prohibited activities. For more information and updates, visit: exim.gov. If you have an Exim Bank loan, you must continue to make timely payments towards your outstanding obligation.

Photo courtesy Free Digital Photos, photographer Renjith Krishnan