Ex-Im Bank and MBDA Announce Expansion of its Partnership

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Ex-Im Bank and MBDA Announce Expansion of its Partnership

WASHINGTON, April 14, 2014 /PRNewswire-USNewswire/ -- The Minority

Business Development Agency (MBDA) and the Export-Import Bank of the

United States (Ex-Im Bank) have announced an expansion of their

partnership to help small minority- and women-owned export businesses

obtain loans so they can have greater access to foreign markets.

MBDA Business Centers in Miami, Los Angeles, Detroit, and Phoenix can

now process loan applications for export financing as Originators for

the Ex-Im Bank's Global Credit Express program, designed to help small

businesses that do not enjoy access to conventional financing


"Ex-Im Bank welcomes the MBDA Business Centers in Miami, Los Angeles,

Detroit, and Phoenix to the growing list of Originators for the Global

Credit Express (GCE) Direct Loan Program," said Ex-Im Bank Chairman

and President Fred P. Hochberg. "The success of the GCE Program is

based on knowledgeable referral sources like our MBDA partners, who

can help us identify qualified small-business exporters that need

pre-shipment working capital to expand their export sales. In FY 2013

alone, Ex-Im Bank authorized $815.6 million to support 761 export

transactions by small- and medium-sized minority- and/or women-owned

businesses in the U.S. In other words, approximately one in five Ex-Im

transactions directly benefited minority-owned or woman-owned small

businesses. This partnership will help more companies reach the other

95 percent of the world's customers that live overseas and support

jobs here at home."

Through this new partnership, small- and medium-sized export

businesses may be eligible for a 6- or 12-month revolving line of

credit of up to $500,000 by way of Ex-Im Bank's Global Credit Express


"The expansion of this partnership effort will build upon the access

to capital resources available to help MBDA minority-business

enterprise firms expand their global footprint," said Joann Hill,

Chief of MBDA's Office of Business Development.


Ex-Im Bank is an independent federal agency that creates and maintains

U.S. jobs by filling gaps in private export financing at no cost to

American taxpayers. 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. In the past fiscal year alone, Ex-Im Bank earned for U.S.

taxpayers more than $1 billion above the cost of operations.

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 American jobs in communities across

the country. For the year, the Bank approved a record 3,413

transactions-- or 89 percent--for small-businesses. Small business

exporters can learn about how Ex-Im Bank products can help them

increase foreign sales at http://go.usa.gov/ZVTd. For other

information about Ex-Im, visit www.exim.gov.

Logo - http://photos.prnewswire.com/prnh/20110414/MM83673LOGO

SOURCE Export-Import Bank of the United States

-0- 04/14/2014

/CONTACT: Lawton King (202-565-3200)

/Photo: http://photos.prnewswire.com/prnh/20110414/MM83673LOGO

PRN Photo Desk, photodesk@prnewswire.com

/Web Site: http://www.exim.gov

CO: Export-Import Bank of the United States; Minority Business Development Agency (MBDA)

ST: District of Columbia




-- DC04485 --

0000 04/14/2014 13:17:00 EDT http://www.prnewswire.com

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