Export-Import Bank of the United States Releases June 2022 Small Business Authorization Data
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 June 2022. EXIM approved 124 authorizations totaling $142.8 million for small businesses that export American goods and services around the world. Small business authorizations for June also include $26.5 million in support of minority- and women-owned businesses.
To date in FY 2022, EXIM has authorized $1.05 billion in small business transactions, which account for nearly one quarter 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.
This month, EXIM is highlighting AcousticSheep, a minority-owned small business in Erie, PA. Founded in 2007, AcousticSheep was born out of necessity when one of the founders was struggling to fall asleep, and designed headphones that were safe and comfortable to be worn to sleep. Since then, with the support of EXIM’s export credit insurance, AcousticSheep has grown to a company of 25 employees that exports to more than three continents. During June, EXIM provided $150,000 in export credit financing, support that will enable AcousticSheep to continue expanding and protect the company against the risk of nonpayment.
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.