Export-Import Bank of the United States
What is the Export-Import Bank of the United States?
The United States’ official export credit agency is the Export-Import Bank of the United States (Ex-Im Bank). Their mission is to support the export of U.S. goods and services internationally through a variety of programs which include loan guarantees, working capital guarantees, direct loans, and export credit insurance.
- Through Ex-Im Bank’s Medium Term Program, Drake Finance is able to provide cross-border equipment financing to foreign buyers.
- Through Ex-Im Bank’s Agricultural Program, Drake Finance is able to provide financing to foreign buyers of bulk agricultural grain.
- Through Ex-Im Bank’s Export Credit Insurance, Drake Finance is able to finance exporters’ receivables, allowing exporters to extend credit terms to their buyers while protecting exporters against buyer nonpayment.
Ex-Im Bank is a vital resource for American companies selling overseas and particularly those exporting to emerging or volatile markets. Ex-Im Bank assumes credit and country risks that the private sector cannot or will not take on. Visit the Ex-Im Bank website for a complete list of countries in which Ex-Im Bank supports U.S. exports.
Ex-Im Bank programs are ideal for small-business exporters, particularly those new to international sales. Over 85% of Ex-Im Bank transactions directly benefit small businesses in the United States. One of Ex-Im Bank’s top priorities is an initiative called Global Access for Small Business, committed to providing assistance to small business exporters in an effort to create and maintain U.S. jobs. In 2011, Ex-Im Bank supported $32 billion worth of exports and roughly 300,000 jobs in the United States. More information on Global Access for Small Business is available at the Ex-Im website.
Altogether, the Ex-Im Bank has supported over $456 billion worth of U.S. exports since its inception in 1934.
What Makes Drake Finance The Right Choice For Your Business
Of the 41 lenders on the Ex-Im Bank Referral List, only a handful of them, including Drake Finance, are non-bank lenders. Since the implementation of nearly all of Basel III regulatory standards in the United States, financing from banks has become increasingly difficult to obtain as they must adhere to new policies and strict regulations. This is especially true if you are a new business. Unlike banks, Drake Finance is not regulated by Basel III. Instead, we provide exporters, distributors and buyers of products made in the United States with practical, results-driven solutions that work to make trade more effective without compromising our due diligence.