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Export-Import Bank of the United States

Description:

The Export-Import Bank of the United States (Ex-Im Bank) and the Rural Business-Cooperative Service have signed an agreement to work together to stimulate small business expansion through exporting in underserved rural areas and small towns.

Ex-Im Bank and RBS will coordinate efforts to improve rural businesses' access to export financing, coordinate delivery of business development programs, develop partnerships with other federal, state, and local government and private organizations to facilitate small business support, and foster sustainable employment and quality of life for residents in these areas.

When can Ex-Im Bank Help?

Ex-Im Bank levels the playing field for U.S. exporters by countering the export credit subsidies of other governments.  The Bank will finance the export of all types of goods or services, including commodities, as long as they are not military-related. 

Although, Ex-Im Bank if not a development agency, its programs often help U.S. exporters participate in development projects.

What Programs are Available:

Working Capital Guarantees:  A 90% guarantee of the principal and interest on commercial loans to creditworthy small and medium-sized companies that need funds to buy or produce U.S. goods or services for export.  Guaranteed loans generally mature in 12 months but are renewable.

Export Credit Insurance Policies:  These policies protect against both the political and commercial risks of a foreign buyer defaulting on payment.  Short-term policies generally cover 100 percent of the principal for political risks and 90-95 percent for commercial risks.  They are used to support the sale of consumer goods, raw materials and spare parts on terms of up to 180 days, and bulk agricultural commodities, consumer durables and capital goods on ters of up to 360 days.

Guarantees of Commercial Loans:  The guarantees are made to foreign buyers of U.S. goods or services and cover 100 percent of principal and interest losses from both political and commercial risks of nonpayment.

Direct Loans:  These loans provide foreign buyers with competitive, fixed rate financing for their purchases from the U.S.

Loan Processing:

Ex-Im's Banks's loans, guarantees, and medium-term insurance cover 85% of the contract price.  The foreign buyer is required to make a 15% cash payment.  The fees charged by the Bank for its programs are based on the risk assessment of the foreign buyer or guarantor, the buyer's country, and terms of credit.  Ex-Im's Bank's fees are highly competitive with those charged by the export agencies of other exporting countries.

Exporters can obtain an Ex-Im Bank Letter of Interest (LI) to assist in negotiations with a potential buyer.  The LI indicates Ex-Im Bank's willingness to consider a financing offer if a sale is completed.  An LI can be issued within seven days of a request for financing and remains in effect for six months.

Where Do You Apply?

Ex-Im Bank's programs are easily accessible.  Potential borrowers may obtain assistance in applying for financing at any Ex-Im Bank office or at one of the U.S. Export Assistance Centers (USEAC).  For Georgia, the contacts are:

Southeast Region of Ex-Im Bank
Phone  (305)526-7425    Fax  (305)526-7435

USEAC
Phone  (404)657-1900    Fax  (404)657-1970

More information can be obtained at the Ex-Im Bank's web site.  To go there, please go to this new site.


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Last Updated : April 27, 2004