Today, the Export-Import Bank ofÂ the United StatesÂ (Ex-Im Bank) released itsÂ Fiscal Year 2013 Annual Report highlighting its approval of more thanÂ $27 billionÂ 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 PresidentÂ Fred P. Hochberg. “Ex-Im BankÂ 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 estimatedÂ 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 thanÂ $188 billionÂ 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 estimatedÂ export value ofÂ $37.4 billion.
- In FY 13, Ex-Im Bank approvedÂ 3,413 small-business authorizations — an all-time high.
- Non-aircraftÂ manufacturing was the industry with the highest authorized amount atÂ $8.5 billion, surpassing aircraft for the first time since 1997.
- ApproximatelyÂ one in five transactions involved women- or minority-owned small businesses.
Ex-Im BankÂ is an independent federal agency that creates and maintains U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. The bank provides a variety of financing mechanisms, including working-capital guarantees, export-credit insurance and financing to help foreign buyers purchase U.S. goods and services. In the past fiscal year alone, Ex-Im Bank earned for U.S. taxpayers more thanÂ $1 billionÂ above the cost of operations.
In FY 2013, Ex-Im Bank approved more thanÂ $27 billionÂ in total authorizations to support an estimatedÂ $37.4 billionÂ in U.S. export sales and approximately 205,000 American jobs in communities across the country. For the year, the bank approved a record 3,413 transactions– or 89 percent–for small-businesses.
For more information, visitÂ www.exim.gov.