EXIM Bank Opens Up New Opportunities for Global Traders

©iStock/Iryna Imago

Archana Sharma discovered EXIM bank at a trade show and it opened up new opportunities for her company [that is not mentioned in the article below].  I believe it is:  AKAS – EXIM's Exporter of the Year in 2021. 

Back in her office, “I [Sharma] said, Hey, we can get credit insurance for exporting, so you know what? Next time let's tell them to buy $15,000 worth instead of $5,000 because we're going to give them insurance. And that was a game changer for us.” That’s why she said, “EXIM has been a very important part of our export journey,” and advocates for them, including testifying on behalf of EXIM in Congress.

Read more about how EXIM Bank can be a game changer for businesses who desire to export.

Announcing 2023 Export Lender Award Winners by the SBA

©iStock/leekris

The Export Lender of the Year Awards recognize excellence in export financing. These awards highlight the accomplishments of lenders in delivering SBA’s international finance programs to small businesses, designed to help small businesses develop new markets, finance export transactions, and expand capacity to meet overseas demand.

This year, the SBA’s Office of International Trade selected Regions Bank and Amerant Bank as the 2023 Export Lenders of the Year, and Berkshire Bank as the 2023 International Trade Lender of the Year.

Read more here.

Two Great Illinois Export-Related Events 11/14/19

©iStock/Surlyapong Thongsawang

Depending on your exporting needs and where you are based, don't miss these upcoming morning programs:

International Trade Workshop, November 14, 2019 in Grayslake, Illinois (8:30-10:00 a.m. CT)

Learn the fundamentals of trade finance so you can turn your export opportunities into actual sales and receive payment on time for them.  You will gain knowledge in export financing, the basic concepts of foreign exchange and billing customers in U.S. dollars versus local currency. You will also learn how to design a foreign invoice in the buyer’s currency.

Manufacturing Export Forum, November 14, 2019 in Schaumburg, Illinois (7:30-9:30 a.m. CT)

The Manufacturing Export Forum will provide an overview on the financing tools, risk mitigation strategies, and accounting considerations that manufacturers face when exporting.

Fighting For Revenue in a Sluggish Global Economy

©iStock/Milosducati

In 2015, many companies in the U.S. and abroad are fighting for revenue in a sluggish global economy and Ex-Im Bank's closing doesn't help matters.  A strong dollar and weaker growth hamper export efforts.  For example, U.S. exports of goods and services were down 3.5% from a year earlier in the first seven months of 2015.  Exports fell 3.2% in August, according to the Commerce Department.

Many foreign companies say they can't secure financing from commercial banks without some kind of government-backed financing or guarantee, which most developed countries offer through their own Ex-Im banks.

And yet there are alternative financing methods out there ...

Read more:  Ex-Im Bank's Closing Creates Gulf

Get Ready Global Small Businesses: U.S. $6 Billion is Coming Your Way in Export Financing

iStock/Thinkstock

As reported by our friends and colleagues over at The New Entrepreneur, BusinessWeek, Commerce Secretary Gary Locke pledged $6 billion a year in export financing for U.S.A. small businesses through the Export-Import Bank of the United States.

Read all about it here:

Locke Pledges Aid for U.S. Small Business Exports (Update 1)

All we can say?

U.S.A., Export Away!