EXIM Approved 333 Small-Business Authorizations Totaling More Than US$299 Million

• Supported  1,200 US Jobs In May And June Also

By Godson Umejiego, Correspondent UK

In the months of May and June 2020, the Export-Import Bank of the United States (EXIM) approved 333 authorizations totaling US$299.4 million in support of an estimated 1,200 American jobs at small businesses in 42 states that export “Made in the USA” products around the world, according to the agency’s preliminary estimates.

This total includes US$285 million of short-term authorizations and US$14.5 million of medium-term authorizations supporting small businesses.

“As we continue reopening our nation’s economy, EXIM stands ready to help America’s small businesses — including women-, minority-, and veteran-owned small businesses, businesses owned by persons with disabilities, businesses in rural areas, and startups — prosper in the global marketplace,” said EXIM President and Chairman Kimberly A. Reed. “Our nation has a wonderful entrepreneurial spirit, and EXIM has implemented several COVID-19 economic relief measures to enhance our existing programs. We continue to encourage small-business exporters to reach out directly to EXIM if they need assistance.”

Nearly 90 per cent of EXIM’s authorizations directly support 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. Below is a summary of overall small-business activity in May and June 2020, followed by a complete list of individual small-business authorizations during that period. Since May 2019, EXIM has authorized more than 2,000 small-business transactions.

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  small businesses. Complete information is available on EXIM’s coronavirus response page. Please contact EXIM for more small-business exporter support.