EXIM Approved 186 Small Business Authorizations Totaling More Than $173 Million and Supporting 900 U.S. Jobs in April

EXIM Extends COVID-19 Relief Measures to Continue Assisting U.S. Small Businesses During Ongoing Pandemic

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May 29, 2020/US EXIM

In April, the Export-Import Bank of the United States (EXIM) approved 186 authorizations totaling $173.3 million in support of 900 American jobs at small businesses that export “Made in the USA” products around the world, according to the agency’s preliminary estimates.

This total includes $170.7 million of short-term authorizations and $2.6 million of medium-term authorizations supporting small businesses.

“We want to help American small businesses succeed in reopening and getting back to work,” said EXIM President and Chairman Kimberly A. Reed. “To assist our small businesses in this effort, EXIM has extended the relief measures we introduced in March until August 31. We continue to encourage small-business exporters to reach out directly to EXIM if they need assistance.”

In recent years, nearly 90 percent of EXIM’s authorizations have supported small businesses, and as part of EXIM’s recent reauthorization, Congress directed EXIM to build on the agency’s robust support of small business even further. In an effort to increase awareness and transparency about this strengthened commitment to small business, EXIM now publishes online a complete list of transactions since a quorum of the Board of Directors was restored in May 2019. Below is a summary of overall small-business activity in April.

Since the onset of the COVID-19 (coronavirus) pandemic, EXIM has announced a series of relief measures for U.S. exporters and financial institutions, including U.S. small businesses. On May 21, 2020, the agency announced it would further extend that assistance through August 31. Complete information is available on EXIM’s coronavirus response page. Please contact EXIM for more small-business exporter support.

To see how small businesses from every state are using EXIM products, view success stories online.

EXIM Authorizations April 2020

EXIM Product

Total
(in millions)

Short-Term
(in millions)

Medium-Term
(in millions)

Long-Term (in millions)

Export Credit Insurance

$ 222.2

$ 219.2

$ 3.0

Working Capital Guarantees

$ 32.4

$ 32.4

Guarantees and Loans

$ 27.2

$ 27.2

Total

$ 281.8

$ 251.6

$ 30.2

Small Business/MWOB

Small Business

$ 173.3

$ 170.7

$ 2.6

Minority and Women-Owned Business

$ 20.9

$ 20.0

$ 1.0

Top Industry

Manufacturing

$ 105.0

$ 102.9

$ 2.1

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