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In today’s competitive global marketplace, U.S. exporters have discovered that it often takes more than just good products at good prices to make a sale. More and more international customers are looking for competitive financing to help fund a deal.
Creative financing solutions can enhance your competitive position in overseas markets. Unfortunately, many and small and medium-sized U.S. companies have discovered that their banks are unwilling or unable to help provide such financing.
Since small and medium-sized enterprises (companies with less than 500 employees) account for 97% of all U.S. exporting companies, this lack of financing assistance could be a real drag on U.S. export growth. That’s where the Export-Import Bank of the United States (Ex-Im Bank) comes in.
Export-Import Bank of the United States
The Ex-Im Bank is the official export credit agency of the U.S., financing export sales of U.S. manufactured goods and services. Its trade financing products can help your company increase sales, enter new markets, and minimize the risks inherent in international trade.
As the official export credit agency of the United States, the Ex-Im Bank does not compete with private banks or private financial institutions. Yet, it has supported more than $400 billion in U.S. exports for more than 80 years. In 2015, nearly 90% of the Ex-Im Bank's transactions supported small businesses.
There is no minimum or maximum transaction limit. And while the Ex-Im Bank typically assists U.S. exporters in predominantly riskier emerging markets, it also assists with well-established markets. By taking advantage of the Ex-Im Bank programs, you can increase your export sales while decreasing your financial risk.
Ex-Im Bank Funding
On June 30, 2015, Congress allowed the Ex-Im Bank's lending authority to expire, which prevented the bank from making any new loans. Later in the year, however, Congress added Ex-Im Bank reauthorization to a highway funding bill, which passed with bipartisan support in Congress and was signed by President Obama in December 2015. This legislation reauthorized the bank through September 2019.
Ex-Im Bank Programs
The Ex-Im Bank offers a variety of programs designed to help U.S. exporters including:
Working Capital Guarantees
This program enables small and medium-sized U.S. companies to obtain loans to produce goods and services for export. With this program, you can arrange a loan from a commercial bank guaranteed by Ex-Im Bank. These funds enable you to purchase raw materials, supplies and equipment to fulfill your export sales order. Ex-Im has generous advance rates and accepts a broad range of collateral for loans that generally extend one year, but that can go up to three years. This loan guarantee covers 90% of the commercial loan. These loans must be secured by export-related collateral.
A lender can advance your company up to 90% for accounts receivable up to 75% for inventory and work-in-progress. To post bid or performance bonds to support an export order, the Ex-Im Bank only requires a 25% collateral pool.
Export Credit Insurance
This program provides exporters and lenders protection against international buyer default. It minimizes political and commercial risk of buyer nonpayment, extends credit terms to international buyers leading to increased sales, and increases exporters’ borrowing capacity and cash flow.
Guarantees of Commercial Loans
This loan program helps lenders offer more attractive finance packages to international buyers of U.S. goods and services. It allows exporters to enter riskier markets, ensures that exporters and lenders get paid, and increases competitiveness by offering a source for competitive financing to your overseas customers.
Governments in other countries assist their exporters with financing packages. Customers expect it. In order to complete with these other exporters, you may need the types of creative financing solutions that enhance your competitive position to increase sales and minimize your risk.
You can find more information about the Ex-Im Bank and their programs at their website or by calling 1-800-565-EXIM (3946).
| Product Model | Inside Diameter | Outside Diameter | Thickness |
| CR8XT2 NTN | 4.762 | 12.7 | 10.3 |
| CR36 NTN | 57.15 | 33.5 |