LEGAL/POLICY

EXIM Board Chairman Highlights Financial Solutions For Arizona Small Businesses

…During World Trade Month

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By Emmanuel Oluebube

Export-Import Bank of the United States (EXIM) President and Chairman Kimberly A. Reed has participated in a webinar with the Arizona Chamber of Commerce and Industry in conjunction with World Trade Month, outlining crucial export finance assistance available during the COVID-19 (coronavirus) crisis.

The presentation focused on COVID-19 relief measures designed to help small businesses protect sales and improve liquidity. Others participating in the webinar were President and CEO of the Arizona Chamber of Commerce and Industry Glenn Hamer, Vice President for International Trade with the Arizona Commerce Authority, Kevin O’Shea, Senior Advisor to Arizona Governor Doug Ducey , and Vice Chair of the Arizona-Mexico Commission, Juan Ciscomani and Deputy Managing Director for EXIM’s Western Region, Sandra Donzella.

During the webinar for 107 participants, Chairman Reed explained how EXIM partners with commercial lenders and insurance brokers to deliver small-business financial solutions, including export credit insurance and working capital loan guarantees.

“When I visited Phoenix last year, I heard from 40 small businesses, financial institutions, and stakeholders at the Chamber and pledged EXIM’s support to help Arizona exporters. I underscored this commitment again today. EXIM is providing a variety of COVID-19 relief measures to Arizona exporters to help them protect foreign sales, improve liquidity, and support Arizona jobs, both during this crisis and as our economy rebounds,” said Chairman Reed. “Over the past decade, EXIM has supported US$2.4 billion in Arizona exports, including US$428 million in support to 106 Arizona small businesses. EXIM can help businesses not just recover from COVID-19, but also achieve their greatest successes ever in the days and years to come.”

“EXIM’s loan guarantees and export credit insurance have always been well positioned to assist American exporters in times of crisis,” said Deputy Managing Director Donzella. “We play an important role in the activities of Arizona exporters and empower them to capture growth opportunities from foreign markets by leveraging EXIM’s resources. We are here to offer support when risk mitigation and financing become important considerations, which in today’s uncertain and challenging environment has become more relevant than ever.”

The webinar was held in conjunction with World Trade Month 2020, an annual event aimed at recognizing the importance of exporting to the US economy and encouraging US businesses to begin or expand their export efforts. EXIM will take part in another World Trade Month event on May 19 to help fulfill its mission of supporting American jobs by facilitating US exports.

Business Development Specialist in EXIM’s Office of Small Business, Toya Woods will join a webinar with the Women’s Business Enterprise Council – West, a regional partner of the Women’s Business Enterprise National Council, the nation’s largest certifier of women-owned businesses. That event will highlight EXIM financial solutions that can help small businesses succeed, particularly minority and women-owned businesses.

On March 12, EXIM announced initial COVID-19 relief measures — waivers, deadline extensions, streamlined processing, and flexibility — for its working capital loan guarantee and export credit insurance programmes to its customers, primarily US small businesses, that now have been extended through May 31.

On March 25, EXIM’s Board of Directors announced additional temporary relief measures. More information on these and other COVID-19-related response actions, along with helpful resources, are available on the EXIM Coronavirus Response webpage.

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