News

WASHINGTON - Export-Import Bank of the United States (EXIM) President and Chairman Kimberly A. Reed today delivered prerecorded remarks to more than 50 attendees of a World Trade Center Delaware webinar focused on trade finance tools for U.S. exporters.

During the virtual event, Chairman Reed highlighted how U.S. businesses can use EXIM's financing tools and resources to increase their international sales, showcase their "Made in the USA" products, and sustain American jobs. She also underscored EXIM's COVID-19 (coronavirus) relief measures for U.S. exporters and financial institutions, including U.S. small businesses.

"As we reopen our economy, EXIM knows that U.S. businesses of all sizes, including in Delaware, are seeking to grow their global sales," said Chairman Reed. "EXIM stands ready to assist American companies reach new customers in the global marketplace who are eager to buy American-made products and, in turn, support U.S. jobs."

U.S. Senator Tom Carper of Delaware also took part in the event, highlighting how expanding access to export markets can benefit U.S. companies.

"A critical role of government is to create a more nurturing environment for businesses to grow and thrive, both in Delaware and across the country," said Senator Carper. "By providing much-needed financing and other support to small businesses in the First State, the Export-Import Bank and the World Trade Center Delaware have helped those businesses expand and sell products ranging from aviation equipment to agricultural products overseas. It's no secret that the Export-Import Bank is a job-creating engine. In 2019, the Bank supported an estimated 34,000 jobs across the nation, and I know that, if we continue our work together, it can create thousands more."

Others participating in the webinar were:

• Carla Sydney Stone, President of World Trade Center Delaware.
• Regina Gordin, EXIM Eastern Region Deputy Managing Director of Sales and Marketing.
• Aerek Stephens, EXIM Business Development Officer.

The speakers outlined opportunities to support small and medium-sized businesses with EXIM's export financing that can help them 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.

The World Trade Center Delaware is a member of EXIM's Regional Export Promotion Program (REPP), a cooperative arrangement between EXIM, cities, counties, states, and local nonprofit economic development entities. With 56 members in 35 states and two U.S territories, it has yielded more than $25 million in new authorizations though direct referrals, connecting small business exporters to the global economy.

"World Trade Center Delaware values the partnership we have with EXIM," said WTC Delaware President Stone. "As Delaware's REPP, we're able to assist companies of all sizes in attaining the low-cost financing they need to compete against foreign suppliers. This webinar showed exporters, especially small businesses, the advantages that EXIM's products such as term financing, working capital guarantees, and credit risk insurance bring to international transactions, enabling them to enter new markets and increase profitability."

ABOUT EXIM:

EXIM is an independent federal agency that promotes and supports American jobs by providing competitive and necessary export credit to support sales of U.S. goods and services to international buyers. A robust EXIM can level the global playing field for U.S. exporters when they compete against foreign companies that receive support from their governments. EXIM also contributes to U.S. economic growth by helping to create and sustain hundreds of thousands of jobs in exporting businesses and their supply chains across the United States. In recent years, approximately 90 percent of the total number of the agency's authorizations has directly supported small businesses. Since 1992, EXIM has generated more than $9 billion for the U.S. Treasury for repayment of U.S. debt. 

For more information about EXIM, please visit www.exim.gov.