For 80 years, the U.S. Export-Import Bank has been financing the export of American goods and services, largely from small businesses. But some lawmakers are pushing to defund the bank, which could have far-reaching consequences for the small-business community.
The Ex-Im Bank gives small businesses an edge by leveling the playing field between small firms and larger counterparts. The bank fills in the gaps offered by traditional financing, and by partnering with private-sector lenders to provide loans and credit to aid foreign purchasers in buying American-made goods. Many small businesses rely on the bank because commercial lenders typically don't support small businesses in this area. In fact, nearly 90 percent of Ex-Im Bank's transactions in 2013 were for American small businesses.
The Ex-Im Bank is an important resource for small businesses, and it's time the voices of those businesses are heard. That's why Small Business Majority has launched a new website dedicated to helping small businesses share their experiences with the Ex-Im Bank. Small-business owners can visit our new website to share their thoughts on why the Ex-Im Bank is important to small-business success, and we'll send these comments directly to members of Congress.
Founder & CEO
Small Business Majority