EXIM Releases February 2022 Monthly 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 February 2022. The agency approved 149 authorizations totaling $130.8 million for small businesses that export American goods and services around the world. Small business authorizations for February also include $43.4 million in support of minority- and women-owned businesses.
To date in FY 2022, EXIM has authorized $598.5 million in small business transactions, which accounts for 34.1 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.
“Small businesses represent the best of American ingenuity,” said EXIM Chair and President Reta Jo Lewis. “The financing EXIM is able to provide them is imperative to the success of America’s domestic workforce and sustained global competitiveness.”
This month, EXIM is highlighting BuzzBallz of Carrollton, TX. A woman-owned alcoholic beverage manufacturing company, BuzzBallz secured EXIM export credit financing so it could scale the business on an international level. As of 2021, with the support of EXIM financing, BuzzBallz’ revenue was on pace to exceed $100 million. Now exporting to more than a dozen countries, BuzzBallz has been able to depend on the insurance EXIM financing provides, even utilizing it when a buyer failed to pay. EXIM’s coverage allowed BuzzBallz to cover what could have been a detrimental loss and save money in the process. Since 2018, EXIM has authorized more than $144,000 in support of BuzzBallz 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.