EXIM Bank Takes the Lead and Offers Maximum Financial Flexibility to Facilitate USA Exports

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The Export-Import Bank of the United States (EXIM) board of directors recently underscored its strong support for new initiatives to inject liquidity into the market and give maximum financing flexibility to facilitate sales of U.S. goods and services abroad.

They agreed to support:

• Bridge Financing Program
• Pre-Delivery/Pre-Export Financing Program
• Supply Chain Financing Guarantee Program; and
• Working Capital Guarantee Program

More detail on each initiative can be found here with links to fact sheets with additional information.

Just in by trade finance expert Ursula Wegrzynowicz, "Those exporters who started applications, but did not complete, should complete those processes asap."

Is It Possible to Oppose Exports?

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Here's the story. Cliffs Natural Resources and Caterpillar are in a battle.

Cliffs is opposed to a proposal for the Export-Import Bank of the United States (Ex-Im) to provide $650 million in long-term financing for Australia’s Roy Hill iron ore mine to purchase mining trucks, bulldozers, and shovels made by Caterpillar at its plants in Illinois and Wisconsin. Cliffs says the loan threatens U.S. mining jobs, and it is seeking support for its views in Congress.

The article goes on to say "boosting exports is vital to reigniting U.S. economic growth and job creation."

So, is it possible to oppose exports?  Read the entire article to understand the arguments:

Man Bites Dog:  Exports and Jobs at Stake in Ex-Im Bank Decision

Strong Commitment to Small Business Owners: President Obama Signs Export-Import Bank Reauthorization Act into Law

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President Obama signed the Export-Import Bank Reauthorization Act of 2012 into law on May 30, 2012. Ex-Im Bank Chairman Fred P. Hochberg joined the President at the White House for the signing ceremony.

The Export-Import Bank Reauthorization Act of 2012 extends the Bank's authority through 2014 and ultimately increases its portfolio cap to $140 billion. This provides much-needed certainty and predictability to U.S. exporters and their workers.

Learn more here.

Related post: Ex-Im's Hochberg Pledges $1 Billion Support for Executive Jets - Businessweek + Global Small Business Blog archives here.

Hat tip to Jim Greene (retired) for letting us know.

U.S. Export Funding Help

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Will Ex-Im Bank's loans, loan guarantees, and insurance to American exporters and foreign buyers dry up at the end of May?

Fred Hochberg, Ex-Im’s chairman, says that 87 percent of the bank’s transactions and 20 percent of its financing dollars go to small businesses. 

Find out more here.  And another viewpoint here.

The Export-Import Bank of the United States Continues to Offer Export Financing

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Are you new to Ex-Im Bank?  If so, go here.  New to exporting?  Explore here.

Ready to take the plunge and find out everything there is to know about all the offerings from the Export-Import Bank of the United States?  Click here.

Now, don't say we didn't tell you about this little "financing exports" goldmine. 

Guess Who's a Powerhouse Among South American Economies?

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Argentina? Bolivia? Chile? Guess again. Try Brazil. And The Export-Import Bank of the United States is putting some money there to promote exports. Exim Bank Chairman and President Fred P. Hochberg says:

“I chose Brazil as my first international destination for good reason: Brazil is a powerhouse among South American economies and offers tremendous opportunities for U.S. exporters in many sectors. I want Brazilians to know that Ex-Im Bank has the will and the capacity to finance their purchases of U.S. equipment, products and services."

Read all about it here.