Export-Import Bank of the United States Launches Equity Express Select Export Credit Insurance to Strengthen Support for the Underserved Business Community
Washington, DC – Today, the Export-Import Bank of the United States launched an innovative new product – the Equity Express Select (EQS) export credit insurance policy. This insurance tool was created specifically for the underserved business community, and will assist minority- women-, veteran- or disability-owned small businesses as well as rural businesses.
Launched during EXIM’s inaugural Global Business Development Summit, this is the first product of its kind at EXIM and was developed with the Bank’s Minority and Women-Owned Business Division (MWOB), to support and empower MWOB companies that meet qualification criteria so they can grow their export business.
“As part of EXIM’s ongoing commitment to advancing diversity, equity, inclusion, and accessibility at every opportunity, I am pleased to announce an innovative new product — the Equity Express Select export credit insurance policy,” said EXIM President and Chair Reta Jo Lewis. “We created this financial tool specifically with the underserved business community in mind, working in collaboration with the dedicated team in our Minority and Women Owned Business Division.”
The EQS insurance policy will cover the accounts receivable created by selling to an international buyer on open account credit terms. There are no up-front costs to activate the insurance product, and it will be supported by an in-house customer service team that will guide companies through the application and servicing process. The product is designed to help small businesses start or expand their exporting journey, then graduate to EXIM’s other export credit insurance products.
The EQS insurance product is available to small businesses that meet qualifying criteria and have not previously utilized other EXIM export credit insurance products. Additional information is available here. Watch a new video here.
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. Learn more at www.exim.gov.
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