EXIM Approved 117 Small Business Authorizations Totaling $97 Million and Supporting 400 U.S. Jobs in October 2020
WASHINGTON - In October 2020, the Export-Import Bank of the United States (EXIM) approved 117 small business authorizations totaling $97 million in 31 states and Puerto Rico that export "Made in the USA" products around the world, in support of an estimated 400 American jobs, according to the agency's preliminary estimates.
"We at EXIM remain focused on ensuring small businesses succeed in exporting their 'Made in the USA' goods and services around the world - and supporting the American jobs that make them possible," said EXIM President and Chairman Kimberly A. Reed. "These authorizations signal EXIM's robust commitment to assisting our small businesses grow and thrive through exporting, particularly in the wake of the COVID-19 pandemic. We continue to encourage small business exporters to reach out directly to EXIM."
The small business authorizations are posted on EXIM's website. In addition, of that $97 million in small business authorizations, $33 million went to support minority- and women-owned businesses. Since May 2019, when a quorum of the Board of Directors was restored, EXIM has authorized more than 2,800 small business transactions through October 31, 2020.
Nearly 90 percent of the total number of EXIM's authorizations directly support U.S. small businesses, and as part of EXIM's recent reauthorization, Congress directed EXIM to build on the agency's robust support of small business even further.
In addition, since the onset of the COVID-19 (coronavirus) pandemic, the agency has announced a series of relief measures for U.S. exporters and financial institutions, including U.S. small businesses. Complete information is available on EXIM's coronavirus response page. Please contact EXIM for more small business exporter support.
To see how small businesses across the country are using EXIM products, view success stories online. To see how EXIM supports exports in each state, view a state-by-state summary online.
ABOUT EXIM:
EXIM is an independent federal agency that promotes and supports American jobs by providing competitive and necessary export credit to support sales of U.S. goods and services to international buyers. A robust EXIM can level the global playing field for U.S. exporters when they compete against foreign companies that receive support from their governments. EXIM also contributes to U.S. economic growth by helping to create and sustain hundreds of thousands of jobs in exporting businesses and their supply chains across the United States. In recent years, approximately 90 percent of the total number of the agency's authorizations has directly supported small businesses. Since 1992, EXIM has generated more than $9 billion for the U.S. Treasury for repayment of U.S. debt.
For more information about EXIM, please visit www.exim.gov.
###