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US Ex-Im enhances trade finance support to small businesses
26 November 2008
Action on working capital loan guarantees modifies restrictions and requirements to increase liquidity for exporters. Special delegated authority granted to expedite trade with Korea.
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Exim bank trade finance letter of credit USA exporters Korea
The Export-Import Bank of the United States (US Ex-Im) has enhanced several of its trade finance products to help counter the tightening of credit and the lack of liquidity in the export marketplace and help US exporters, and in particular small-businesses, create and maintain export-related jobs.
The changes, briefed to the bank's board of directors, expand access to the bank's trade finance products, making more US exporters, including more small business exporters, and lenders, eligible to apply for financing backed by US Ex-Im.
In addition, board action will also expedite billions of dollars in US exports to South Korea.
"These actions help maintain the flow of US exports to international buyers and keep US export workers on the job," says James Lambright, chairman and president of US Ex-Im. "We are...
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