Export-Import Bank of the United States (EXIM)
The Export-Import Bank of the United States (Ex-Im Bank) is the official export credit agency of the United States. Ex-Im Bank's mission is to assist in financing the export of U.S. goods and services to international markets. Ex-Im Bank enables U.S. companies — large and small — to turn export opportunities into real sales that help to maintain and create U.S. jobs and contribute to a stronger national economy. Ex-Im Bank does not compete with private sector lenders but provides export financing products that fill gaps in trade financing. We assume credit and country risks that the private sector is unable or unwilling to accept. We also help to level the playing field for U.S. exporters by matching the financing that other governments provide to their exporters.
Ex-Im Bank provides working capital guarantees (pre-export financing); export credit insurance; and loan guarantees and direct loans (buyer financing). No transaction is too large or too small. On average, more than 85% of our transactions directly benefit U.S. small businesses. With more than 78 years of experience, Ex-Im Bank has supported more than $550 billion of U.S. exports, primarily to developing markets worldwide.
What We Do
Ex-Im Bank is focused on helping U.S. small businesses and has a dedicated team to assist them. In fiscal 2011 Ex-Im Bank supported a record $6 billion in small business exports. On average, 87% of transactions benefit small business exporters of U.S.-made goods and services and no transaction is too small.
How Ex-Im Bank Can Assist
Risk Protection – Making international sales is challenging enough without worrying about getting paid. Ex-Im Bank's export credit insurance policy provides payment coverage for both commercial risks (such as buyer default) and political risks (such as war). The Bank protects sales to a single buyer or an entire export portfolio.
Extend Credit to Buyers – The insurance also enables exporters to sell on competitive "open account" terms, instead of requiring cash-in-advance or costly and complicated letters of credit. Businesses will no longer forego sales because they cannot match the credit terms offered by global competitors. Furthermore, insured foreign receivables may be used to increase an exporter's borrowing base with a lender, thereby accelerating cash flow.
Working Capital – Ex-Im Bank can help U.S. companies obtain vital loans to fulfill export orders. An Ex-Im Bank guaranteed credit line may be used to purchase finished products, pay for raw materials, supplies, labor and overhead, and even cover standby letters of credit used as performance or bid bonds. The Bank's guarantee turns an exporter's inventory into eligible collateral for the lender.
Term Financing – Foreign buyers may obtain competitive financing (with extended repayment terms) to buy U.S.-made capital goods and services.