EXIM Chairman Kimberly Reed Presents RPS Corporation of Racine, Wisconsin the EXIM Exporter of the Year Award
RACINE, Wisc. - Export-Import Bank of the United States (EXIM) President and Chairman Kimberly A. Reed today presented an Exporter of the Year award to RPS Corporation, a Racine, Wisconsin-based manufacturer of commercial floor cleaning equipment and toured the company's production, manufacturing, and training facilities. The small business was honored during EXIM's virtual 2020 Annual Conference, the largest in the agency's history, which was held in September. Chairman Reed presented the award in person to RPS Corporation officials during her visit.
Since 2008, RPS Corporation has utilized EXIM financing to drive increased sales. Specifically, the company relies on EXIM export credit insurance to extend favorable credit terms to its customers abroad and protect its accounts receivables against the risk of non-payment. Over the last six years, EXIM has supported RPS exports valued at more than $62 million with top markets including Germany, Australia, and the United Kingdom and the small business employs approximately 150 Americans. The company's policies are facilitated by EXIM broker Newstead Credit and Political Risk, Inc., of Evanston, Illinois.
"RPS Corporation is a great Wisconsin success story and I am proud to recognize it as an EXIM Exporter of the Year," said EXIM Chairman Kimberly Reed. "Approximately 90 percent of EXIM authorizations directly support small businesses, like this one, sustain and grow American jobs through the export of their outstanding 'Made in the USA' goods and services abroad. EXIM's team is fully dedicated to do all we can to help small businesses across Wisconsin and across the country enjoy the same success as RPS Corporation."
"EXIM support has allowed us to extend more credit to international markets and has driven increased sales ever since we started using it," said Sean Goff, RPS Corporation's CEO. "Properly selling and supporting equipment requires a large financial investment and patience."
Since 2014, EXIM has supported exports valued at $1 billion from 149 companies - including 99 small businesses like RPS Corporation - across Wisconsin.
From left: RPS Corporation CIO Marc McDuffie; EXIM Chairman Reed; and RPS Corporation CFO Pete Jedlicka on a RPS Factory Cat Floor Sweeper to be exported to Denmark using EXIM's export credit insurance.
U.S. companies, particularly small businesses, can utilize EXIM's financing tools and resources to increase their international sales, showcase their "Made in the USA" products, and sustain American jobs. In addition, EXIM has implemented several COVID-19 (coronavirus) relief measures for U.S. exporters and financial institutions to enhance the agency's existing programs.
For more information about EXIM, please visit www.exim.gov.
ABOUT EXIM:
EXIM is an independent federal agency that promotes and supports American jobs by providing competitive and necessary export credit to support sales of U.S. goods and services to international buyers. 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, approximately 90 percent of the total number of the agency's authorizations has directly supported small businesses. Since 1992, EXIM has generated more than $9 billion for the U.S. Treasury for repayment of U.S. debt.
For more information about EXIM, please visit www.exim.gov.