EXIM Chairman Highlights Trade Finance Tools In Remarks To Alaska Business Organizations

By Godson Umejiego, Correspondent USA

Export-Import Bank of the United States (EXIM) President and Chairman Kimberly A. Reed has delivered prerecorded remarks to more than 160 registrants of a webinar hosted in partnership with the Alaska Manufacturing Extension Partnership Solutions (MEP), Alaska Small Business Development Center (SBDC), Anchorage Chamber of Commerce, and the Export Council of Alaska, outlining trade finance solutions for US exporters.

During the virtual event, Chairman Reed underscored how Alaska businesses, particularly small businesses, can utilize EXIM’s financing tools and resources to expand their international sales, showcase their “Made in the USA” products, and sustain American jobs.

“We at EXIM want Alaska companies of all sizes to attain their full potential and reach new levels of success through exporting. As the economy recovers and reopens after COVID-19, EXIM can help American companies achieve their greatest successes in the months and years ahead,” said Chairman Reed. “I join with Alaskans in saying ‘North to the Future!’ The ‘Last Frontier’ is a land of promise thanks to the ingenuity and dedication of Alaska’s entrepreneurs, businesses of all sizes, and the American jobs they support.”

Others participating in the event were:

• Director, Alaska US Export Assistance Center, Debbie Franklin.
• Executive Director, Alaska SBDC, Jon Bittner.
• Director, Alaska MEP Center, Alyssa Rodrigues.
• EXIM Business Development Officer, Aerek Stephens.

“Now more than ever it is important for Alaskan businesses to take advantage of every available market and opportunity,” said Jon Bittner of the Alaska SBDC. “Resources and organizations like the ones showcased in this webinar are crucial to helping entrepreneurs launch or grow their international presence successfully.”

“As Alaska continues to struggle with the impacts of COVID, reaching out to new markets to sustain our businesses is more important now than ever,” said Alyssa Rodrigues of the Alaska MEP Center.

The speakers outlined opportunities to support small businesses with EXIM’s export financing that can enable them to increase current sales or expand into new markets. By partnering with EXIM, exporters can mitigate the risk of nonpayment on international sales and offer credit terms to foreign buyers, and access working capital loan guarantees. They also underscored EXIM’s COVID-19 (coronavirus) relief measures for US exporters and financial institutions to enhance the agency’s existing programmes.