The Export-Import Bank of the United States (EXIM) is the official export credit agency of the United States. EXIM is an independent, self-sustaining Executive Branch agency with a mission of supporting American jobs by facilitating the export of U.S. goods and services.
When private sector lenders are unable or unwilling to provide financing, EXIM fills in the gap for American businesses by equipping them with the financing tools necessary to compete for global sales. In doing so, the Bank levels the playing field for U.S. goods and services going up against foreign competition in overseas markets, so that American companies can create more good-paying American jobs.
Because it is backed by the full faith and credit of the United States, EXIM assumes credit and country risks that the private sector is unable or unwilling to accept. The Bank’s charter requires that all transactions it authorizes demonstrate a reasonable assurance of repayment; the Bank consistently maintains a low default rate, and closely monitors credit and other risks in its portfolio.
EXIM provides trade financing solutions – including export credit insurance, working capital guarantees, and guarantees of commercial loans to foreign buyers – to empower exporters of U.S. goods and services.
But how can you use these solutions to jump-start your foreign sales? In a number of ways!
EXIM provides U.S. businesses with solutions to protect against foreign buyer nonpayment and in turn support the export of more American-made goods and services. One product in particular that allows businesses to protect themselves against foreign buyer nonpayment is Export Credit Insurance.
EXIM provides U.S. businesses with solutions to extend credit terms to foreign buyers. Our Export Credit Insurance allows businesses to extend "open account" credit terms to foreign buyers.
Borrowing against inventory and accounts receivable allows businesses to turn assets into much-needed cash flow. U.S. exporters face special challenges when it comes to securing asset-based loans. Private lenders can be hesitant to lend against export-related assets, creating cash flow problems for exporters.
U.S. exporters of capital equipment and services face a special set of challenges when attempting to win international sales. Foreign buyers who require extended-term financing may face prohibitively expensive borrowing rates in their home country, blocking them from buying U.S. products and services.