Ex-Im Bank Joins with Virginia Small Business Development Center to Boost Local U.S. Exports
WASHINGTON, D.C. - The Export-Import Bank of the United States (Ex-Im Bank) has joined forces with the Virginia Small Business Development Center/George Mason University to assist local businesses to boost their export sales and add quality American jobs as part of Ex-Im Bank's City/State Program.
The City/State Program helps ensure that Ex-Im Bank's export finance products are more accessible to small and medium-sized businesses by way of local, state, and regional economic development and business support organizations. Each City/State Program member pledges to make financing assistance and entrepreneurial services available to local businesses in order to create, promote, and expand exports from their area. Ex-Im Bank provides members with free marketing and training materials, qualified finance experts to speak at members' local events, assistance with outreach and counseling, and access to a network of lenders, insurance brokers, and U.S. Government export resources.
The program is expected to accelerate export business and job growth by connecting Bank products and services to a statewide network of Small Business Development Centers (SBDCs).
Ex-Im Bank can offer Virginia businesses that want to grow their exports numerous tools and resources, said Ex-Im Bank Chairman and President Fred P. Hochberg. In FY 2014 alone, Ex-Im Bank supported $306.2 million in Virginia small business exports, and we would like to increase the amount in the coming year.
The Virginia SBDC Network is very pleased to be in the City/State program, said Jody Keenan, State Director for the Virginia SBDC Network. The SBDC helps companies overcome barriers to exporting, and Ex-Im Bank resources and expertise are important financial solutions to bring to our clients.
Small business exporters can learn more about how Ex-Im Bank products can empower them to increase foreign sales visiting exim.gov/smallbusiness. For more information about Ex-Im, please visit www.exim.gov.
ABOUT EX-IM BANK:
Ex-Im Bank is an independent federal agency that supports and maintains U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. The Bank provides a variety of financing mechanisms, including working capital guarantees and export credit insurance, to promote the sale of U.S. goods and services abroad. Ninety percent of its transactions directly serve American small businesses.
In fiscal year 2014, Ex-Im Bank approved $20.5 billion in total authorizations. These authorizations supported an estimated $27.5 billion in U.S. export sales, as well as approximately 164,000 American jobs in communities across the country.
ABOUT THE VIRGINIA SMALL BUSINESS DEVELOPMENT CENTER:
The Virginia Small Business Development Centers (SBDC) Network is a partnership between the US Small Business Administration (SBA), George Mason University, and a variety of local organizations, including universities, chambers of commerce, and economic development groups. For more information, please visit http://www.virginiasbdc.org/.
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