EXIM Approves 186 Small Business Authorizations

…Worth Over US$173 Million, Supporting 900 US Jobs In April


By Emmanuel Oluebube

In April, the Export-Import Bank of the United States (EXIM) approved 186 authorizations totaling US$173.3 million in support of 900 American jobs at small businesses that export “Made in the USA” products around the world, according to the agency’s preliminary estimates.

This total includes US$170.7 million of short-term authorizations and US$2.6 million of medium-term authorizations supporting small businesses.

“We want to help American small businesses succeed in reopening and getting back to work,” said EXIM President and Chairman Kimberly A. Reed. “To assist our small businesses in this effort, EXIM has extended the relief measures we introduced in March until August 31. We continue to encourage small-business exporters to reach out directly to EXIM if they need assistance.”

In recent years, nearly 90 per cent of EXIM’s authorizations have supported small businesses, and as part of EXIM’s recent reauthorization, Congress directed EXIM to build on the agency’s robust support of small business even further. In an effort to increase awareness and transparency about this strengthened commitment to small business, EXIM now publishes online a complete list of transactions since a quorum of the Board of Directors was restored in May 2019.

Since the onset of the COVID-19 (coronavirus) pandemic, EXIM has announced a series of relief measures for US exporters and financial institutions, including US mall businesses. On May 21, 2020, the agency announced it would further extend that assistance through August 31.

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