Ex-Im Bank Partners With FCIB Association, Accelerates Access to Export Financing
WASHINGTON, March 18, 2014 /PRNewswire-USNewswire/ -- The Export-Import Bank of the United States (Ex-Im Bank) today announced its cross-marketing partnership with thousands of credit and finance professionals who are represented by the Finance, Credit and International Business Association (FCIB), a division of the National Association of Credit Management. The Bank and FCIB signed a memorandum of understanding that expresses their mutual interest in providing information to business owners about how they may finance and expand export sales while sustaining U.S. jobs.
"At the Ex-Im Bank, our singular focus is equipping U.S. exporters with the tools they need to reach customers around the world and create jobs here at home," remarked Ex-Im Bank Chairman and President Fred Hochberg. "And we depend upon export finance and business credit professionals across America to connect us with entrepreneurs – particularly those from the small business community - who can benefit from the services we provide. FCIB is the primary network for those credit professionals, so naturally we're excited about the opportunities that this working relationship will provide."
As part of the agreement, FCIB will leverage its membership network to distribute information about Ex-Im's risk-mitigating export credit insurance, loan guarantees, and working capital programs. The FCIB Association contributes to the Trade Finance Guide published by U.S. Department of Commerce, and previously partnered with the International Trade Administration and U.S. Commercial Service.
"FCIB and the Export-Import Bank essentially share the same mission: to help companies turn export opportunities into real sales that maintain and create U.S. jobs and contribute to a stronger national economy," said Marta Chacon, director for the Americas at FCIB, and a Certified International Credit Professional. "While FCIB does this through education, networking, certification and credit reporting, Ex-Im does it through its unique export financing products that fill gaps between what the private sector can provide, and what security an exporter needs to complete a sale. By working together, we can empower even more companies to access overseas markets, growing businesses and creating jobs."
ABOUT EX-IM BANK:
Ex-Im Bank is an independent federal agency that creates and maintains U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. The Bank provides a variety of financing mechanisms, including working capital guarantees, export-credit insurance, and financing to help foreign buyers purchase U.S. goods and services. In the past fiscal year alone, Ex-Im Bank earned for U.S. taxpayers more than $1 billion above the cost of its operations.
In FY 2013, Ex-Im Bank approved more than $27 billion in total authorizations to support an estimated $37.4 billion in U.S. export sales and approximately 205,000 U.S. jobs in communities across the country. For the year, the Bank approved a record 3,413 transactions, 89 percent of them for small businesses. Small-business exporters can learn about how Ex-Im Bank products can help them increase foreign sales at http://go.usa.gov/ZVTd. For other information about Ex-Im, visit www.exim.gov.
SOURCE Export-Import Bank of the United States