Under the National Export Initiative
The Export-Import (Ex-Im) Bank provides financing for U.S. businesses and their customers in foreign markets where the private sector is not readily willing or able to provide financing. During fiscal year 2012, Ex-Im supported about 255,000 U.S. jobs and reported a fourth-straight record-breaking year with $35.7 billion in authorizations and more than $50 billion in sales supported. During the past four years, Ex-Im has supported nearly 1 million jobs, all at no cost to the American taxpayer.
Global Business Solutions: In an effort to ensure there is no wrong door within the federal government to help SME exporters, the Export-Import Bank, SBA, Foreign Agricultural Service, and the Overseas Private Investment Corporation are collaborating to create U.S. government financing packages to meet the need of exporters and lenders alike.
Financing for Small to Medium-Sized SMEs:
Small- and medium-sized enterprises (SMEs) have played a critical role in driving record export growth. A record 287,000 U.S. SMEs exported goods in 2010, accounting for 98 percent of all identified exporters and helping demonstrate the export potential of small businesses.
- Ex-Im Bank helped more than 3,300 small businesses expand their export sales in 2012. More than 650 small businesses worked with the Ex-Im Bank for the first time in 2012, and Ex-Im authorized a record amount in export financing for small businesses: 6.1 billion. Ex-Im estimates 85 percent of Bank transactions benefit small businesses.
- From the launch of the NEI through 2012, the Small Business Administration (SBA) backed more than 2,400 loans to 3,500 small businesses through its financing programs, supporting a combined $3.4 billion in small business sales during that period.
Since the launch of the NEI, the Small Business Administration has trained 273 Small Business Development Center (SBDC) counselors across the country to counsel small businesses new to exporting. An additional 136 SBDC counselors have achieved advanced Certified Global Business Professional accreditation. SBA also has trained more than 11,000 loan officers in SBA’s export financing programs; significantly increased the number of commercial lenders active in its Export Working Capital, International Trade Loan and Export Express programs; and provided financing to more than 3,500 small business exporters.
Export growth from U.S. investments: When American companies establish a direct physical presence overseas, U.S. exports often follow that investment. The Overseas Private Investment Corporation has assisted in this process, and OPIC-supported projects have resulted in more than $2.1 billion in U.S. exports to developing countries from fiscal years 2010 to 2012.
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