EXIM Bank Teams with City of Norfolk to Boost Local U.S. Exports
For Immediate Release: Friday, May 8, 2015
WASHINGTON, D.C. - As part of Small Business Week, the Export-Import Bank of the U.S. (EXIM) announced that it has joined forces with the City of Norfolk to empower local businesses to boost their export sales and add quality American jobs as part EXIM Bank's City/State Program.
"EXIM is proud to equip Norfolk businesses with tools and resources that empower them to boost their exports and add more jobs," said EXIM Bank Chairman and President Fred P. Hochberg. "Virginia's exports grew by nearly 7 percent last year, and we hope that this partnership will help continue to spur Virginia businesses to reach for new heights of global success."
"Norfolk is committed to supporting our local businesses by providing them with the critical tools and resources necessary to compete in the global marketplace," said Peter Chapman, Deputy City Manager of Economic Development. "Our partnership with the Export-Import Bank ensures that the exporters of the greater Hampton Roads region have access to the crucial financial services and products of our nation's export credit agency."
The City/State Program helps ensure that EXIM 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. EXIM 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.
For more information on the EXIM Bank's products and services made available under the City/State Partners Program, please contact the City of Norfolk Department of Development at 757-664-4338.
ABOUT EXIM BANK:
EXIM 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, EXIM 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 64,000 American jobs in communities across the country.
Small business exporters can learn about how EXIM Bank products can empower them to increase foreign sales by clicking here. For more information about EXIM, visit www.exim.gov.