News

Washington, D.C. – The Export-Import Bank of the United States (EXIM) announced that the agency is extending measures to assist customers, U.S. exporters, and financial institutions located in federal disaster areas declared by the Federal Emergency Management Agency (FEMA), due to the effects of recent and impending weather events.

EXIM's assistance is in accord with the agency's general policy of offering help to customers in all areas of the United States that are declared federal disaster areas by FEMA.

EXIM is offering assistance measures in the areas affected by weather events, including Hurricanes Helene and Milton, to allow businesses and financial institutions that participate in EXIM's programs to return to their business concerns when appropriate and without penalty due to missed deadlines or other timeliness issues.

“All of us at EXIM are committed to supporting our customers and lenders affected by Hurricane Helene, and those who may be affected by impending Hurricane Milton. To reduce the burden of those dealing with these extreme weather events, we are providing flexibilities so that those we serve can focus on staying safe and charting their recovery,” said EXIM Chair Reta Jo Lewis.

For a full list of current measures, please see the Fact Sheet. Highlights include:

Working Capital Guarantee Program

• For loan facilities that mature between the start date of the incident period of the declared disaster, as defined by FEMA, up to 180 days from such start date, an, automatic extension of the loan facility for up to 180 days and an automatic extension for up to 180 days upon request to pay the related loan facility fee. In extraordinary circumstances, we would consider waiving the loan facility fee.
• The agency is also offering waiver of program requirements with which parties cannot reasonably comply under the circumstances, waiver of defaults for nonpayment of interest up to 180 days, and waiver of provisions relating to both defaults and replenishment of collateral for over-advances resulting from losses of inventory or sales.

Short- and Medium-Term Insurance Programs

• EXIM is offering automatic policy renewal for multibuyer policies that terminate during the incident period of the declared disaster, as defined by FEMA.
• Shipment reporting and premium payment deadlines for all shipments made during the incident period will be automatically extended up to 180 days from the start of the declared disaster.

ABOUT EXIM:

The Export-Import Bank of the United States (EXIM) is the nation’s official export credit agency with the mission of supporting American jobs by facilitating U.S. exports. To advance American competitiveness and assist U.S. businesses as they compete for global sales, EXIM offers financing including export credit insurance, working capital guarantees, loan guarantees, and direct loans. As an independent federal agency, EXIM contributes to U.S. economic growth by supporting tens of thousands of jobs in exporting businesses and their supply chains across the United States. Learn more at www.exim.gov.

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