WASHINGTON, April 3, 2013 /PRNewswire/ -- The Export-Import Bank of the United States (Ex-Im Bank) will participate in U.S. Global Business Solutions, a new interagency initiative to expand the reach of federal export assistance and add 50,000 small businesses to the nation's exporter base by 2017.
Announced today in Washington, D.C., by Small Business Administrator Karen Mills, the pilot program will also aim at expanding the base of financial institutions and service providers that facilitate exports, adding an anticipated 250 trade-finance sources by December 2015.
"To keep our economy growing, we need more American small businesses to become exporters," said Ex-Im Bank Chairman and President Fred P. Hochberg. "Global demand for 'Made in the U.S.A.' products and services is strong, but many small businesses are unaware of the opportunities in international markets or are wary of the risks. U.S. Global Business Solutions will facilitate interagency coordination to provide them with the market assistance and financing tools they need to begin or expand exporting, increase their revenues and create good, middle-class jobs here at home."Currently in development, U.S. Global Business Solutions will 'bundle' U.S. government trade-finance products for lenders and exporters. The programs and products will be combined into a single menu of options that will be tailored to the stage of the exporter's development and the capacity of the financial institution or service provider. The initiative will be designed to make it easier and more cost-effective for exporters to use the programs and products of multiple agencies. Six federal agencies will be participating: Ex-Im Bank, the U.S. Small Business Administration (SBA), the U.S. Department of Agriculture, the U.S. Department of Commerce/International Trade Administration, the U.S. Trade and Development Agency (USTDA) and the Overseas Private Investment Corporation (OPIC).