At a time when more than 95% percent of global consumers reside outside the United States, international trade is more vital than ever. But buying and selling abroad carries inherent risk. What if you can’t obtain financing for your overseas sales?
Luckily, these problems were considered long ago and the U.S. Export-Import Bank (Ex-Im) was created to fill the gap. Ex-Im provides financing and loan guarantees to U.S. companies who export and their customers. The Bank’s primary mission is to step in and provide financing when commercial banks can’t — or won’t — provide funding.
The only bad news is that reauthorization for Ex-Im will run out November 21 if Congress fails to pass a funding bill to keep the government open. This funding will likely be extended to December 20 as part of a continuing resolution, but this is only a short-term solution.