Showing posts with label SMALL BUSINESSES. Show all posts
Showing posts with label SMALL BUSINESSES. Show all posts

Saturday, August 30, 2014

EXPORT-IMPORT BANK TOUTS PARTNERSHIP WITH FLORIDA AND WASHINGTON STATE TO HELP SMALL BUSINESSES

FROM:  U.S. EXPORT-IMPORT BANK 
Small Business Success of the Week: Florida and Washington State Partner with Export-Import Bank US to Help Local Businesses Grow

WASHINGTON, D.C. – Two state agencies looking to help their local businesses grow joined forces with the Export-Import Bank of the United States (Ex-Im Bank) through the Bank’s City/State Partner program, to better prepare their small businesses to create jobs through exports. The Florida Export Finance Corporation (FEFC) and the Export Finance Assistance Center of Washington State are working with small businesses in their states to determine which Ex-Im products would be best for their needs.

“Our strategic partnerships with regional economic development organizations, private lenders, and advisors are opening new doors for small businesses in communities across America,” said Ex-Im Bank Chairman and President Fred P. Hochberg. “The goal of the City/State Partners program is to ensure that more small businesses and entrepreneurs know how Ex-Im Bank products can equip local companies to grow their sales and add U.S. jobs through exports.”

In Florida, Florida Export Finance Corporation staff worked with Gus Vidauretta, co-founder of Top Secret Nutrition, to develop financial solutions for his small business. Working together, they identified Ex-Im Bank’s Global Credit Express program as a great way to expand the reach of Top Secret Nutrition. Global Credit Express enables exporters to set up a revolving line of credit in amounts up to $500,000, at no cost to taxpayers. Gus and his team subsequently created three new, dedicated product lines for markets in the UK, Italy, and Brazil.

“Ex-Im has been a key partner in several ways,” said Vidauretta. “Top Secret Nutrition first worked with the insurance side of Ex-Im. Our ability to export and our level of security were both enhanced by the fact that our exports were insured. Later we applied and received a loan from Ex-Im to create inventory for export. Ex-Im is an incredible asset and partner to businesses like mine.”

In Washington State, Whooshh Innovations, developers of an innovative product for transporting live fish and delicate fruit needed capital to complete orders from overseas buyers. With a slim history of financing export sales, rising orders created a funding gap between the capital Whooshh needed to produce its machinery, and what commercial banks were willing to put at risk. Doug Kemper, advising on behalf of Export Finance Assistance Center, matched his client’s need with the Bank’s Global Credit Express program. The loan enabled Whooshh to increase its production capacity, in order to fulfill the foreign buyers’ demand. Combining the financing with Ex-Im export credit insurance gave Whooshh flexibility to offer open account credit terms to make their export sales more competitive.

Kemper called Ex-Im’s Global Credit Express the perfect fit for Whooshh Innovations, which is “now on the cusp of some significant international sales.” Kemper’s office and other strategic partnerships plan to repeat that success. “This is a very unusual product that was created by [Ex-Im] Bank to fulfill a need that is definitely in the marketplace,” he said. “The relationship with Ex-Im is excellent. GCE is very creative, and the support and backing by the Bank – the willingness to help – is certainly there.”

Tuesday, May 13, 2014

SCORE ANNIVERSARY RECOGNIZED DURING NATIONAL SMALL BUSINESS WEEK

FROM:  U.S. SMALL BUSINESS ADMINISTRATION 
SBA Recognizes SCORE 50th Anniversary During
National Small Business Week

WASHINGTON – During National Small Business Week, the U.S. Small Business Administration is proud to recognize SCORE for its 50th anniversary in providing volunteer counseling and mentoring to our nation’s entrepreneurs.

SCORE, SBA’s valued resource partner, has served more than 10 million entrepreneurs since 1964, providing mentoring, counseling and coaching sessions for entrepreneurs and small business owners in its 50 year history.  SCORE has a network of 320 chapter locations and 11,000 volunteer mentors dispersed throughout the country.

“Congratulations to SCORE for 50 years of success and service to our nation’s small business community,” said SBA Administrator Maria Contreras-Sweet.  “Thanks to SCORE, the small business community is able to reach so many entrepreneurs and small business owners to make sure they have the tools and resources they need to succeed.  Working together, SCORE, our other resource partners, and SBA are able to reach so many small businesses and help foster an environment where the spirit of entrepreneurship thrives.”

SCORE volunteers are trained to serve as counselors, advisors and mentors to aspiring entrepreneurs and business owners, and their services are offered at no cost.  The celebration of SCORE’s 50th anniversary will continue throughout 2014, with a special focus on the 6th Annual SCORE Awards on August 14, 2014 in Washington, DC.

SCORE CEO Ken Yancey reflected on the organization’s 50th anniversary, saying “This milestone is about so much more than half a century of existence; it is about the work of hundreds of thousands of volunteers who have donated their time, energy and knowledge and about the more than 10 million small business owners who used those resources to enhance the American economy and their local communities. We are honored to be a part of these stories and these accomplishments and look forward to serving 10 million more.”

Since its inception, SCORE’s services have evolved in their methods for aiding entrepreneurs to include email mentoring and an extensive offering of online resources and educational workshops.  SCORE mentors share their experience and expertise with aspiring and current entrepreneurs in every stage of the business life cycle, from formation to planning for sale or exit.

Sunday, January 26, 2014

U.S. EXPORT-IMPORT BANK TOUTS RECORD YEAR FOR SMALL BUSINESSES

FROM:  EXPORT-IMPORT BANK
Highlights from the last Six Months

Ex-Im Bank Annual Report Outlines Record Year for Small Businesses

Ex-Im Bank released its Fiscal Year 2013 Annual Report highlighting its approval of more than $27 billion in authorizations that supported an estimated 205,000 American jobs. The Bank also approved more than 3,400 small-business authorizations, a new record.

"I am proud to announce that nearly 90 percent of the Bank's transactions in FY 13 were for small businesses – an all-time high," said Chairman Hochberg. "Ex-Im Bank employees have done a remarkable job of ensuring that American entrepreneurs have the tools they need to succeed in international markets. Whether it's providing export-credit insurance to first-time exporters or working-capital guarantees to returning customers, Ex-Im Bank will continue to fulfill its mission of creating U.S. jobs."

Among the highlights from the 2013 Annual Report:

Ex-Im financing created or supported an estimated 205,000 export-related U.S. jobs.
In the last five years (FY 09 to FY 13), Ex-Im Bank has assisted in financing more than
$188 billion of U.S. exports and supported 1.2 million American jobs.
In FY 13, Ex-Im Bank authorized financing for a record high 3,842 export transactions,
which totaled an estimated export value of $37.4 billion.
In FY 13, Ex-Im Bank approved 3,413 small-business authorizations – an all-time high.
Non-aircraft manufacturing was the industry with the highest authorized amount at
$8.5 billion, surpassing aircraft for the first time since 1997.
Approximately one in five transactions involved women- or minority-owned small businesses.
Ex-Im Bank Announces More Than $1 Billion in Revenues Generated for Taxpayers in FY 2013

Ex-Im Bank transferred more than $1 billion in revenues to the U.S. Treasury's General Fund for fiscal year 2013. This revenue, generated for U.S. taxpayers from fees and services, is what the Bank earned above its operating costs and loan loss reserves.

“From supporting jobs to helping reduce our deficit, the Export-Import Bank is making a difference for our economy and working for the American taxpayer,” said Chairman Hochberg. “In addition to sustaining hundreds of thousands of American jobs, Ex-Im Bank also generated more than $1 billion dollars for the U.S. Treasury last year alone. These numbers are a testament to the dedication and hard work of Ex-Im Bank’s staff and I want to take this opportunity to thank them for their service."

Sunday, December 22, 2013

EXPORT-IMPORT BANK REPORTS RECORD YEAR FOR SMALL BUSINESS EXPORT FINANCING

FROM:  EXPORT-IMPORT BANK
Ex-Im Bank Annual Report Outlines Record Year for Small Businesses 
$27 Billion in Export Financing Supported More than 200,000 U.S. Jobs

Washington D.C. – Today the Export-Import Bank of the United States (Ex-Im Bank) released its Fiscal Year 2013 Annual Report highlighting its approval of more than $27 billion in authorizations that supported an estimated 205,000 American jobs. The Bank also approved more than 3,400 small-business authorizations, a new record.

“I am proud to announce that nearly 90 percent of the Bank’s transactions in FY 13 were for small businesses – an all-time high,” said Ex-Im Bank Chairman and President Fred P. Hochberg. “Ex-Im Bank employees have done a remarkable job of ensuring that American entrepreneurs have the tools they need to succeed in international markets. Whether it’s providing export-credit insurance to first-time exporters or working-capital guarantees to returning customers, Ex-Im Bank will continue to fulfill its mission of creating U.S. jobs.”

Among the highlights from the 2013 Annual Report:

* Ex-Im financing created or supported an estimated 205,000 export-related U.S. jobs.

* In the last five years (FY 09 to FY 13), Ex-Im Bank has assisted in financing more than $188 billion of U.S. exports and supported 1.2 million American jobs.

* In FY 13, Ex-Im Bank authorized financing for a record high 3,842 export transactions, which totaled an estimated export value of $37.4 billion.

* In FY 13, Ex-Im Bank approved 3,413 small-business authorizations – an all-time high.

* Non-aircraft manufacturing was the industry with the highest authorized amount at $8.5 billion, surpassing aircraft for the first time since 1997.

* Approximately one in five transactions involved women- or minority-owned small businesses.

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