US Exim Bank hopes to exceed US$9 billion in financing within 3 years

US EX-IM Bank has kick-started growth in the small cap export sector with the launched of its Global Access for Small Business in January, conducting more than 1,700 transactions totalling US$2.4 billion.


"Our efforts to encourage more companies to export are paying off, and I am optimistic that we can reach the president's goal of doubling US exports by 2014," said Ex-Im Bank chairman and president Fred Hochberg, who hopes to reach $9 billion in financing and approve $30 billion in less than three years, reports American Shipper.


Its aim to also offer products has created demand for its most popular products of export-credit insurance and working capital loan guarantees covering 90 per cent of the balance, which enable exporters to extend credit to international companies and offset risk of buyer non-payment for commercial or political reasons.


In fiscal 2010, Ex-Im Bank helped 900 American small businesses.
(Source:http://www.schednet.com)