Export – Import Bank Expands to Support Small to Mid-Sized Businesses

Leaders will have greater flexibility to serve the needs of small to mid-sized companies under the Export-Import Bank of the United States Super Delegated Authority and Fast Track programs announced in its press release on Monday, June 8th.

The bank combined the two programs aggregate limit allowing leaders to increase its overall limit to $450 million working capitol loans. Under the Super Delegated Authority program, leaders can guarantee working capitol loans to U.S. exporters without prior approval from the bank. In the Fast Track program, approval from the Export-Import Bank is needed for transactions more than $25 million per borrower. With this new flexibility small to mid-sized companies will see positive change in the economic recovery. The press release states:

Ex-Im Bank’s working capital loan guarantees help small and medium-sized U.S. companies build inventory to fill foreign orders. Pre-export costs can include purchase of raw materials or finished products, export production, and coverage of standby letters of credit serving as bid bonds, performance bonds, or advance payment guarantees.

“Ex-Im Bank looks forward to using this new feature to help our lending partners increase support of U.S. exports by small and medium-sized companies,” said Ex-Im Bank Chairman and President Fred P. Hochberg. “Enhancing financing flexibility is important at a time when credit is tightening around the world.”

To read the full press release, click here.