EXIM Bank of the United States - Explain

What is Export-Import Bank of the United States

 

The Export-Import Bank of the United States (Ex-Im Bank) was created in 1934 by an executive order, and operates under a charter which is periodically reviewed by Congress. The Export-Import Bank (Ex-Im Bank) is the official U.S. export credit agency that provides export credit insurance, working capital guarantees, loans and loan guarantees to help foreign markets finance the purchase of U.S. goods and services. EXIM is an independent Executive Branch agency with a mission of supporting American jobs by facilitating the export of U.S. goods and services. Ex-Im Bank offers a range of financing solutions for U.S. exporters and for buyers of U.S. goods and services in Central America and the Caribbean. These programs offer increased access to working capital, protection against commercial and political risk, and the ability to offer your buyer financing on competitive terms. Ex-Im Bank is committed to expanding trade between the U.S. and the countries of Central American and the Caribbean through its various programs.

Export-Import Bank provide to lenders pre-export Working Capital Guarantees that enable small- and medium-sized U.S. companies obtain loans to produce goods or provide a service for export.  Export-Import Bank sell exporters and lenders Export Credit Insurance that protects against foreign buyers defaults. Export-Import Bank offer lenders Guarantees of Commercial Loans to Foreign Buyers covering principal and interest against both political and commercial risks of buyer nonpayment.                                

EXIM Bank is active in every state in the U.S. This report provides details, statistics, and success stories that provide insight into how EXIM Bank helping exporters on a state level. According to EXIM Bank 2017 Annual Report, the Bank authorized over $3.4bn of mainly short-term export credit and working capital guarantees to support an estimated $7.4bn of U.S. exports and an estimated 40,000 jobs.


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