Daily News: March 19, 2014

Ex-Im Bank, FCIB Sign MOU to Support Export Financing

FCIB and the Export-Import Bank essentially share the same mission: to help companies turn export opportunities into real sales that maintain and create U.S. jobs and contribute to a stronger national economy.

The Export-Import Bank of the United States announced its cross-marketing partnership with thousands of credit and finance professionals who are represented by the Finance, Credit and International Business Association (FCIB), a division of the National Association of Credit Management.

The Bank and FCIB signed a memorandum of understanding that expresses their mutual interest in providing information to business owners about how they may finance and expand export sales while sustaining U.S. jobs.

In FY 2013, Ex-Im Bank approved more than $27 billion in total authorizations to support an estimated $37.4 billion in U.S. export sales and approximately 205,000 U.S. jobs in communities across the country. For the year, the Bank approved a record 3,413 transactions, 89 percent of them for small businesses.

“At the Ex-Im Bank, our singular focus is equipping U.S. exporters with the tools they need to reach customers around the world and create jobs here at home,” remarked Ex-Im Bank chairman and president Fred Hochberg. “And we depend upon export finance and business credit professionals across America to connect us with entrepreneurs – particularly those from the small business community – who can benefit from the services we provide. FCIB is the primary network for those credit professionals, so naturally we’re excited about the opportunities that this working relationship will provide.”