Insights@Meridian with T.H. Reta Jo Lewis, EXIM

Top Takeaways from Insights@Meridian with The Honorable Reta Jo Lewis

Operating in approximately 180 countries, and partnering with companies of varying size, the Export-Import Bank of the United States (EXIM) is open for business.

The Honorable Reta Jo Lewis, President and Chair of EXIM, sat down with Ambassador Stuart Holliday, CEO of Meridian, to share how EXIM has worked domestically and abroad for nearly 90 years to facilitate international cooperation through the export of U.S. goods and services.

Here are some top takeaways from the program:

1. EXIM is open for business

EXIM works with small, medium, and large businesses on transactions as small as $5,000, up to billions of dollars. Customers interested in working with EXIM should check the country limitation schedule to confirm if the Bank is operational in their country, which will further indicate where the Bank can provide financial support. In collaboration with other export credit agencies, or ECAs, EXIM works with stakeholders including foreign commercial service officers, local chambers of commerce, experts and entrepreneurs, to better understand local challenges and facilitate collaboration with international partners. Given EXIM’s prioritization of engaging small businesses, the Bank is working to educate interested customers on how they can support new business abroad through funding mechanisms such as working capital guarantees.

2. Meeting EXIM’s eligibility requirements

EXIM provides short, medium, and long-term financing to its customers, and there are eligibility requirements for exporters to consider in potentially working with the Bank. Some of these requirements include credit worthiness, compliance with U.S. laws and policies, project feasibility, reassurance of repayment, and competitive products. Most importantly, EXIM works to ensure that their efforts complement, rather than compete with, the private sector.

3. EXIM’s reauthorization in Congress emphasizes strong bipartisan support

EXIM’s reauthorization in 2019 was confirmed with strong bipartisan support for a term of seven years, which serves as a testament to the impact that the Bank had has on the American economy within local communities, as well as its collaboration with ECAs in countries of operation. Strong support for EXIM in Congress can be attributed in part to the Bank’s continual educational efforts with its stakeholders and EXIM’s consistent search for “bankable” projects. Other areas of focus from EXIM’s reauthorization include new finance areas such as renewable goods, transformational exports, and small business, which are important for companies looking to work with the Bank to consider.

4. The local impact of doing business globally

The future and evolution of EXIM is not only dependent on its partnerships with like-minded nations. It is also critical for the Bank to continue to educate the American public on the benefits that EXIM’s projects have on local communities and states around the country that are becoming increasingly more engaged in the global economy. At the Cities Summit of the Americas, which took place this past April in Denver, Colorado, Chair Lewis and Ambassador Holliday were featured on a panel focused on how public-private partnerships are used to advance infrastructure. EXIM’s support in advancing digital and energy infrastructure worldwide was also a recent topic of discussion at the G7 Summit in Japan.

5. The Make More in America Initiative

The Make More in America Initiative is critical in helping companies build their capacity to manufacture exports within the United States, with an emphasis on sectors that support national security and strengthen critical supply chains. Under the Make More in American Initiative, projects must be able to demonstrate that 25 percent of production or expected shipment are tied to exports. For small businesses and certain projects that focus on transformational export areas, or environmentally beneficial transactions, there is a lower export nexus threshold. Transformational export areas include semiconductors, biotech and biomedical products, renewable energy, and energy storage.