News

Washington, D.C.: In June 2019, the Export-Import Bank of the United States (EXIM) authorized a total of $400.1 million in support of American small businesses who export "Made in the USA" products around the world. This total includes $372.1 million of short-term authorizations and $28.0 million of medium-term authorizations.

Medium-Term Export Credit Insurance: Air Tractor, Olney, Texas

EXIM approved eight medium-term credit insurance policies for Air Tractor Inc. (ATI) totaling more than $7 million, which will support the sale of eight agricultural aircraft to Brazil. The company, headquartered in Olney, Texas, manufactures single-engine agricultural, firefighting, and utility aircraft. EXIM has backed ATI's exports since 1992, approving more than 300 transactions valued at more than $290 million, which supported the export of more than 300 aircraft.

Using EXIM's medium-term credit insurance has allowed ATI, which currently employs about 275 people, to successfully expand into emerging and underdeveloped markets. As a result, ATI has increased its overall exports from about 10 percent of sales to well over 50 percent of sales annually. A majority of EXIM support has been for farming operations and agricultural spraying companies in Brazil and Argentina, but EXIM also has supported transactions to other markets including Chile, Costa Rica, Paraguay, and Uruguay.

Short-Term Export Credit Insurance: Active Minerals International, Sparks, Maryland

EXIM approved short-term export credit insurance for Active Minerals International LLC (AMI) of Sparks, Maryland, allowing the company to continue providing innovative industrial mineral solutions for today's technologically advanced world. AMI is a leading global producer and distributor of specialty industrial minerals, which are used for, agricultural, industrial, and construction-related applications. EXIM has supported AMI since 2007, insuring nearly $446 million in exports for the company. Export credit insurance has helped the company in two ways - ensuring payment on worldwide shipments and raising the working capital needed to fulfill orders from international buyers. As a result, AMI has shipped its products to more than 200 buyers in 41 countries.

ABOUT EXIM BANK:

EXIM is an independent federal agency that promotes and supports American jobs by providing competitive and necessary export credit to overseas purchasers of U.S. goods and services. A robust EXIM can level the global playing field for U.S. exporters when they compete against foreign companies that receive support from their governments. EXIM also contributes to U.S. economic growth by helping to create and sustain hundreds of thousands of jobs in exporting businesses and their supply chains across the United States. In recent years, 90 percent of the total number of the agency's authorizations has directly supported small businesses.

For more information about EXIM, please visit www.exim.gov.

Medium-Term Activity for June 2019