News | News Releases | 2006

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April 26, 2006
Contact: Phil Cogan (202) 565-3200

EX-IM BANK PARTNERS WITH HAWAII TO HELP STATE'S SMALL
BUSINESS EXPORTERS EXPLOIT THEIR UNIQUE LOCATION

HONOLULU, HAWAII - Small business exporters located in Hawaii will be better equipped to expand their international sales and minimize financial risks thanks to a new partnership between the Export-Import Bank of the United States (Ex-Im Bank) and the State of Hawaii.

The State of Hawaii Department of Business, Economic Development & Tourism (DBEDT) today joined Ex-Im Bank's City-State Partners Program, a national marketing initiative that brings export financing services to small- and medium-sized U.S. companies through cooperation with state and local governments and private sector organizations.

With the addition of Hawaii, Ex-Im Bank now has 45 city-state partners in 38 states, plus the Commonwealth of Puerto Rico.

"Small businesses in Hawaii enjoy a unique geographical advantage," said James H. Lambright, chairman and president (acting) of Ex-Im Bank, in discussing the partnership during a Honolulu-Washington, D.C. video link ceremony with Hawaii Governor Linda Lingle.

"With Hawaii's strategic location in the middle of the Pacific Ocean, exporters are well-positioned to interact efficiently with businesses on the U.S. Mainland and throughout the Pacific region. Now, with this partnership they'll enjoy enhanced access to the many export finance services of Ex-Im Bank," said Lambright.

"The Ex-Im Bank programs add another tool to the wide range of services available to small businesses through our Foreign-Trade Zone division and the U.S. Export Assistance Center," said Governor Lingle. "Since no deal is too small for export financing from Ex-Im Bank, we're pleased to be able to enter into this partnership and help our small businesses tap into the power of U.S. Government export financing."

As a result of this agreement, DBEDT can walk local businesses through the process of applying for a wide range of Ex-Im Bank financing tools including working capital support, export credit insurance and loan guarantees for service companies that will enable them to better compete in growth markets abroad.

Ex-Im Bank this year marks its 72nd year of helping finance the sale of U.S. exports, primarily to emerging markets throughout the world. In fiscal year 2005 Ex-Im Bank authorized nearly $14 billion in transactions supporting almost $17.9 billion in U.S. exports. This represented 3,128 transactions, of which 2,617, or over 80%, directly benefited small businesses.

"Since 1999, Ex-Im Bank has approved export finance transactions for four Hawaii exporters amounting to just over $1 million," said John Emens, Ex-Im Bank senior vice president for small business. "Clearly there are many more small business exporters in Hawaii that are exporting and can benefit from the export finance products available from us."

For more information on Ex-Im Bank, visit the web site at http://www.exim.gov. More information on the the Department of Business, Economic Development & Tourism may be found on the Web at http://www.hawaii.gov/dbedt . For information on becoming a City-State Partner, or contacting existing Partners, contact Mr. Gus Grace via e-mail at Gus.Grace@exim.gov.