From shipping to staffing, the Chamber and its partners have the tools to save your business money and the solutions to help you run it more efficiently. Join the U.S. Chamber of Commerce today to start saving.
The Export-Import Bank
Ex-Im Bank is a small federal agency that helps U.S. companies, including small and medium-sized businesses, sell their products overseas, create jobs for American workers, and grow the U.S. economy.
By law, the Bank’s Board of Directors must have a quorum – or three of its five members – to act on transactions and policy changes that require Board approval. Currently, however, there are three vacancies on the Board. Earlier this year, the President nominated J. Mark McWatters to fill one of the open seats on the Board. We urge the Senate to move swiftly to consider this nominee. The longer the delay on filling this position, the more U.S. companies face delays on securing sales. Ex-Im Bank needs stable, dynamic leadership that will ensure the Bank maintains its track record of continuous improvements, fiscal responsibility and effective export promotion.
164,000 Reasons the U.S. Needs Ex-Im Bank
- U.S. jobs rely on exports. In fiscal year 2014, Ex-Im Bank provided financing or guarantees for $27.5 billion in U.S. exports, thereby supporting more than 164,000 American jobs.
- Small businesses rely on Ex-Im Bank to export their products. Nearly 90% of Ex-Im’s transactions supported U.S. small businesses in 2014.
- Supported $10.7 billion in exports from U.S. small businesses.
- Maintained a historically low default rate of 0.175% as of the end of FY14.
- Nearly $14 billion – more than 68% -- of Ex-Im Bank reauthorizations supported U.S. exports to emerging markets, where commercial banks are often more reluctant to lend.
- Last year Ex-Im Bank sent $674.7 million to the U.S. Treasury as surplus for American taxpayers. Over the past two decades, Ex-Im has generated a surplus of nearly $7 billion.
- Ex-Im Bank is vital to American competitiveness. Ex-Im support is often required to secure commercial financing or even to qualify to bid on overseas projects. Without Ex-Im, small businesses will lose out to their overseas competitors, many of which are backed by export credit agencies 18 times the size of the U.S. Ex-Im Bank.
Learn more about Ex-Im Bank.
Read the U.S. Chamber's press release about the final legislation reauthorizing Ex-Im.
Coalition of Support
The U.S. Chamber of Commerce is part of a broad coalition that supports reauthorization of Ex-Im Bank. More than 1,000 companies and associations, representing businesses and their employees from all 50 states, called on Congress for quick action on a long-term reauthorization of the Ex-Im Bank. Read the letter to Congress and the list of supporting organizations - from Auburn Manufacturing Inc. in Mechanic Falls, ME to Alliance Rubber Company in Hot Springs, AR.
Last year, a similar letter was sent to Congress signed by hundreds of businesses of every size and sector.
Small Business Ex-Im Testimonials
Small businesses often rely on Ex-Im Bank to secure commercial financing or even qualify to bid on overseas projects. Without Ex-Im, small businesses will lose out to their overseas competitors, many of which are backed much larger export credit agencies. See how vital Ex-Im Bank is to American competitiveness by reading small business success stories or follow the conversation on Twitter by following #ExIm4Jobs.
Combustion Associates, Inc. (CAI)
"I wish Congress members would come to my office and see what it's like to have these contracts depending on Ex-Im, to have our employees depending on Ex-Im. Ex-Im is extremely important for our growth, and really, for our survival, and I wish they could see that."
Read the full story on Above the Fold: Her Small Business was Ready to Hire 100 More People. Then, Ex-Im Expired
Patton Electronics Co Inc.
We started exporting in the 1990s and now sell to over 120 countries. The Ex-Im Bank enables us to export to this many markets, as it provides loan guarantees and insurance on our receivables.
President and CEO
ProGauge Technologies, Inc.
"Nobody is going to take the place of Ex-Im. We’re already working with a private bank. Without Ex-Im, we wouldn’t have the collateral required for our projects and revenues would go down by about 75%. I’d have to lay off between 50 – 60 people. Ex-Im is critical to our business." Read full story here.