News

WASHINGTON – As part of the Export-Import Bank of the United States’ (EXIM) commitments to transparency and supporting America’s small businesses, the agency today released authorization data for small business transactions in March 2022. EXIM approved 190 authorizations totaling $149 million for small businesses that export American goods and services around the world. Small business authorizations for March also include $34.4 million in support of minority- and women-owned businesses.

To date in FY 2022, EXIM has authorized $763.2 million in small business transactions, which account for 37.9 percent of the agency’s total authorizations. For FY 2021, small business authorizations totaled more than $1.6 billion, representing 28.2 percent of total authorizations. Historically, nearly 90 percent of the total number of EXIM’s authorizations directly benefit U.S. small businesses.

“EXIM is more dedicated than ever to supporting American jobs through American exports,” said EXIM President and Chair Reta Jo Lewis. “With the EXIM Board’s unanimous approval of the Make More in America Initiative recently, EXIM has reaffirmed that we are open for business and committed to ensuring that America’s supply chains are more resilient and American businesses remain competitive in the global landscape.”

This month, EXIM is highlighting Phenix Technology, Inc. of Riverside, CA. This small business, started by two California fire captains, manufactures high-quality, American-made helmets and equipment for firefighters and first responders. Phenix secured EXIM export credit insurance in 2015 after realizing that it was leaving a large international market untouched. With the support of EXIM financing, Phenix now exports to three continents and continues to grow its global distributor network. Phenix has been able to rely on the security EXIM financing provides, ultimately growing its staff by over 200 percent and gaining the ability to provide comprehensive benefits. Since 2015, EXIM has authorized more than $685,483 in support of Phenix exports.

To see how other small businesses across the country are using EXIM products, view these success stories. To see how EXIM supports exporters in every state, view this state-by-state summary.

ABOUT EXIM:
 

The Export-Import Bank of the United States (EXIM) is the nation’s official export credit agency with the mission of supporting American jobs by facilitating U.S. exports. To advance American competitiveness and assist U.S. businesses as they compete for global sales, EXIM offers financing including export credit insurance, working capital guarantees, loan guarantees, and direct loans. As an independent federal agency, EXIM contributes to U.S. economic growth by supporting tens of thousands of jobs in exporting businesses and their supply chains across the United States. Since 1992, EXIM has generated more than $9 billion for the U.S. Treasury for repayment of U.S. debt. Learn more at www.exim.gov.