TX Ranks First in Ex-IM Bank Small Business Financing

Congressman Ruben Hinojosa

Congressman Rubén Hinojosa announced that according to the Export-Import Bank of the United States (Ex-Im Bank) in its preliminary Fiscal Year 2011 (FY’11) figures, more than $512 million in export credit was authorized for Texas small businesses, making Texas the top state in the country for all Ex-Im Bank small business financing.
“The Export-Import Bank plays a leading role in our efforts to increase U.S. exports and enhance U.S. competitiveness, which is one of the most effective ways to create jobs for the millions of Americans who are currently unemployed, said U.S. Rep. Rubén Hinojosa. “Ex-Im Bank levels the playing field for U.S. exporters and workers so U.S. jobs are not lost to foreign competitors. It is clearly working for my district, the 15th District of Texas, the Texas-Mexico border region, the great state of Texas, and the rest of the United States. I was honored when Sean Mulvaney, a member of the Ex-Im Bank’s Board of Directors, traveled to the district for a joint Global Access Exporter Forum on August 30, 2011. ”
“Ex-Im Bank financing is supporting local jobs in cities across the Lone Star State,” said Fred P. Hochberg, Ex-Im Bank chairman and president. “Small businesses are the backbone of our economy, and we will continue to provide our small and-medium sized business owners with the tools they need to compete in today’s brutally competitive global marketplace.”
Ex-Im Bank recently reported that it has hit historic levels exceeding $32 billion in transactions, which are supporting $40.6 billion in export sales and approximately 290,000 American jobs at over 3,600 U.S. companies. The Bank authorized more than $4.5 billion in export credit financing for Texas companies.
“U.S. exports are contributing to our economic recovery and the record-setting growth of Ex-Im export financing is helping to support that trend,” said Gene Sperling, the director of the National Economic Council. “American exporters and Ex-Im remain on track to achieve President Obama’s goal of doubling U.S. exports by the end of 2014.”
Congressman Hinojosa along with The Export-Import Bank met with small business owners in the Rio Grande Valley at a Global Access Exporter Forum August 30, 2011 in Weslaco City Hall. Sean Mulvaney, a Member of the Bank’s Board of Directors, traveled to the border region for the event. Mr. Mulvaney addressed the needs of small and medium-sized businesses and explained how the Bank’s products and services can help business owners in the area expand their export sales.

Export-Import Bank
Featured Texas Small Business Transaction
Air Tractor, Inc., a 200-employee manufacturer of agricultural and forest fire-bombing airplanes, has used Ex-Im Bank’s medium-term insurance for 15 years to export an estimated $40 million of its aircraft, primarily to small private-sector buyers in Argentina and Brazil. The company uses the Bank’s medium-term policies to provide supplier credits, which are loans to international buyers that the company originates and then sells to a commercial lender. About 25 planes are expected to be financed annually. In 2009, Air Tractor also obtained an Ex-Im Bank-guaranteed working capital loan. This company has been able to enter new markets, with exports now accounting for approximately 60 percent of the company’s total sales. Ex-Im Bank-supported exports have helped the company smooth out the effects of fluctuations in demand. “Ex-Im Bank’s financing helped us establish long-term relationships with customers in Latin America and greatly expand our sales,” stated David Icker, Air Tractor’s Vice President of Finance.
Small Business
Small business financing rose over 70 percent from $3.3 billion in FY 2008 to $6 billion in FY 2011 and is up $1 billion from last year. As part of its efforts to increase this portfolio, Ex-Im Bank’s Global Access for Small Business initiative has held more than 20 forums across the country this year, reaching 4,000 small business exporters. For information on Ex-Im Bank’s small business transactions, please visit: http://www.exim.gov/sbgport/SB_success.cfm
About Ex-Im Bank
Ex-Im Bank is an independent federal agency that helps create and maintain U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. The Bank is a self-sustaining agency that receives no net appropriation from the U.S. Congress and charges interest and fees to fund its transactions.
The Bank provides a variety of financing mechanisms, including working capital guarantees, export-credit insurance and financing to help foreign buyers purchase U.S. goods and services.


TX Ranks First in Ex-IM Bank Small Business Financing Congressman Ruben Hinojosa Congressman Rubén Hinojosa announced that according to the Export-Import Bank of the United States (Ex-Im Bank) in its preliminary Fiscal Year 2011 (FY’11) figures, more than $512 million in export credit was authorized for Texas small businesses, making Texas the top state in the country for all Ex-Im Bank small business financing. “The Export-Import Bank plays a leading role in our efforts to increase U.S. exports and enhance U.S. competitiveness, which is one of the most effective ways to create jobs for the millions of Americans who are currently unemployed, said U.S. Rep. Rubén Hinojosa. “Ex-Im Bank levels the playing field for U.S. exporters and workers so U.S. jobs are not lost to foreign competitors. It is clearly working for my district, the 15th District of Texas, the Texas-Mexico border region, the great state of Texas, and the rest of the United States. I was honored when Sean Mulvaney, a member of the Ex-Im Bank’s Board of Directors, traveled to the district for a joint Global Access Exporter Forum on August 30, 2011. ” “Ex-Im Bank financing is supporting local jobs in cities across the Lone Star State,” said Fred P. Hochberg, Ex-Im Bank chairman and president. “Small businesses are the backbone of our economy, and we will continue to provide our small and-medium sized business owners with the tools they need to compete in today’s brutally competitive global marketplace.” Ex-Im Bank recently reported that it has hit historic levels exceeding $32 billion in transactions, which are supporting $40.6 billion in export sales and approximately 290,000 American jobs at over 3,600 U.S. companies. The Bank authorized more than $4.5 billion in export credit financing for Texas companies. “U.S. exports are contributing to our economic recovery and the record-setting growth of Ex-Im export financing is helping to support that trend,” said Gene Sperling, the director of the National Economic Council. “American exporters and Ex-Im remain on track to achieve President Obama’s goal of doubling U.S. exports by the end of 2014.” Congressman Hinojosa along with The Export-Import Bank met with small business owners in the Rio Grande Valley at a Global Access Exporter Forum August 30, 2011 in Weslaco City Hall. Sean Mulvaney, a Member of the Bank’s Board of Directors, traveled to the border region for the event. Mr. Mulvaney addressed the needs of small and medium-sized businesses and explained how the Bank’s products and services can help business owners in the area expand their export sales. Export-Import Bank Featured Texas Small Business Transaction Air Tractor, Inc., a 200-employee manufacturer of agricultural and forest fire-bombing airplanes, has used Ex-Im Bank’s medium-term insurance for 15 years to export an estimated $40 million of its aircraft, primarily to small private-sector buyers in Argentina and Brazil. The company uses the Bank’s medium-term policies to provide supplier credits, which are loans to international buyers that the company originates and then sells to a commercial lender. About 25 planes are expected to be financed annually. In 2009, Air Tractor also obtained an Ex-Im Bank-guaranteed working capital loan. This company has been able to enter new markets, with exports now accounting for approximately 60 percent of the company’s total sales. Ex-Im Bank-supported exports have helped the company smooth out the effects of fluctuations in demand. “Ex-Im Bank’s financing helped us establish long-term relationships with customers in Latin America and greatly expand our sales,” stated David Icker, Air Tractor’s Vice President of Finance. Small Business Small business financing rose over 70 percent from $3.3 billion in FY 2008 to $6 billion in FY 2011 and is up $1 billion from last year. As part of its efforts to increase this portfolio, Ex-Im Bank’s Global Access for Small Business initiative has held more than 20 forums across the country this year, reaching 4,000 small business exporters. For information on Ex-Im Bank’s small business transactions, please visit: http://www.exim.gov/sbgport/SB_success.cfm About Ex-Im Bank Ex-Im Bank is an independent federal agency that helps create and maintain U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. The Bank is a self-sustaining agency that receives no net appropriation from the U.S. Congress and charges interest and fees to fund its transactions. The Bank provides a variety of financing mechanisms, including working capital guarantees, export-credit insurance and financing to help foreign buyers purchase U.S. goods and services.
Alice TX Chamber News - November 2011