The Export-Import Bank isn’t a flashy news item. It’s rarely in the news at all, but it’s incredibly important to the American economy. Here are a few fast facts about the bank that helps U.S. businesses compete on the international stage.
Q: What is the Export-Import (EXIM) Bank?
A: EXIM is a federally backed bank that connects American companies to global markets.
Q: How does it do that?
A: By providing financial assistance to American companies and reducing risk for foreign customers wanting to buy American products.
Q: Why do we need EXIM?
A: EXIM provides financial assistance to companies when private banks can’t, enabling American companies to sell their products on global markets.
Q: Who benefits from EXIM?
A: Machine shops, manufacturers, suppliers, small businesses, and American workers whose work ends up in exported products, such as commercial and military aircraft.