New York Company Exports Worldwide With Ex-Im Bank's Environmental Insurance

Exporter: Ecological Laboratories, Inc. — Lynbrook, NEW YORK
Destination: Worldwide
Ex-Im Bank Product: Export Insurance
Jobs Sustained: 6

Ecological Laboratories, Inc., a Lynbrook, NY company, selects, grows and produces bio-formulations specifically to meet the requirements of on-site wastewater systems. Its bio-formulations are backed by over 27 years experience in the field of industrial microbiology. Ecological Laboratories has been able to use its Ex-Im Bank export credit insurance to offer open account terms to buyers, especially those in new markets. This allows the buyers to not tie up their funds with purchase-limiting cash-in-advance payments.

The company currently has 55 employees with six working on international sales. Their policy was brokered by Risk Protection International of Stratford, Connecticut. In April, 2011, the company's President, Michael Richter, participated on an exporter panel for a Global Access for Small Business forum in Long Island, New York. Stories such as Richter's provided further insight on how Ex-Im Bank helps small businesses grow their international sales. The forum also provided one-on-one consulting to answer particular trade questions from the attendees. Forums are held nationwide throughout the year In cooperation with members of Congress, governors, and the Department of Commerce and SBA.

“ We do trade around the globe now; Singapore, Italy, China, UK, all over the world. We are able to make these sales due to the credit backing of the Ex-Im Bank. To our small business, it is the greatest selling tool for opening new foreign business. ”

- Michael Richter, President