Ex-Im Reports Record-Breaking Year

Ex-Im Approves Over $32 billion in financing for FY2011; $6.0 billion in financing to small business

For fiscal year 2011, Ex-Im Bank approved over $32 billion in financing, an all-time record for the Bank and up 110% from 2008. These financings supported approximately 300,000 U.S. jobs and included more than 3,000 small business transactions - up nearly 20%. Fiscal year 2011 marks the third consecutive record-breaking year, with significant growth seen in industries such as aircraft, renewable energy, and infrastructure as well as key markets including Colombia, India, Turkey, and Sub-Saharan Africa.

 

 

 

 

Ex-Im Bank is steadfast in achieving the goals of the President's National Export Initiative (NEI) in doubling exports by 2015. In addition, significant progress was made in accomplishing Ex-Im Bank's goals to add 5,000 new small businesses to the Ex-Im Bank portfolio, double the small business volume to $9 billion, and approve $30 billion in total small business transactions.

• Add a total of 5,000 new small businesses to the Ex-Im Bank portfolio
   1500 as of 9/30/115000 
• Double its annual small business volume to $9 billion
   $6 billion as of 9/30/11$9 billion 
• Approve $30 billion in total small business transactions
   $15.3 billion as of 9/30/11$30 billion 

Preliminary FY'11 Highlights Include:

• 3,750 transactions
• 1,019 companies new businesses to Ex-Im portfolio
• $6.0 billion in small business export financing, an all-time record
• $719 million in minority- and woman- owned export financing
• $720 million in renewable financing, up from $30 million in 2008
• Over $1.3 billion in Sub Saharan Africa - first time we have passed the billion dollar mark in Africa
• $2.9 billion increase to India, a direct result of the President's efforts to build a strategic alliance

Ex-Im Bank Issues Over 100 Express Insurance Policies

Since its launch at Ex-Im Bank's 2011 Annual Conference, express insurance has proved to be a much-needed short-term export insurance product, which is available only to small businesses. One hundred and twelve exporters purchased an express insurance policy in fiscal year 2011 leading to over $50 million in authorizations. Thirty-two of our insurance broker partners distributed more than 90% of the express insurance policies, with Trade Acceptance Group of Minnesota and Global Business Solutions of North Carolina tied for the most express policies sold.

On the Road

Chairman Hochberg Addresses the U.S. on How to Gain a Competitive Edge

The Chairman traveled to Boston, Mass. and Atlanta, Ga. to speak about U.S. competitiveness in, "How the United States Can Gain a Competitive Edge in the Transforming World of Exports." The Chairman attended the Massachusetts Roundtable and the New England Council, and the Metro Atlanta Chamber. During his remarks, the Chairman addressed the unique challenges to U.S. exporting and outlined a strategy on how the U.S. can remain a global leader in exports.

Preliminary Top Five for Small Business in FY2011

These top five brokers, bankers, and states contributed to the overall success this fiscal year to financing small business. Ex-Im Bank has targeted small business as a top priority for financing and development to achieve the goals of improving the U.S economy and creating jobs for American workers.

Preliminary Top 5 Brokers for Small Business 1. Trade Acceptance Group - Edina, Minn. 2. Altus Multinational Group - Stratford, Conn. 3. International Risk Consultants - Columbus, Ohio 4. Meridian Finance Group - Santa Monica, Calif. 5. Export Insurance Services - Augusta, Ga.
Preliminary Top 5 Banks for Small Business 1. PNC Bank, N.A. 2. Well Fargo Bank 3. Silicon Valley Bank 4. JPMorgan Chase Bank 5. Bank of America	Preliminary Top 5 States for Small Business Financing 1. Texas 2. Florida 3. California 4. Pennsylvania 5. New York

Chairman Hochberg Discusses How to Successfully Export Overseas on MSNBC's Your Business

Chairman Hochberg sat down with MSNBC's Your Business in September to discuss doing business abroad to help small business entrepreneurs suffering from the economic downturn. Chairman Hochberg discussed tips on how to expand sales overseas without taking the risk of nonpayment.

Video: Where's The Money?: Exporting Your Business - MSNBC's Your Business

KUHF Houston Public Radio Interview

Worldwide Exchange

Op-Eds: From the Chairman

The Houston Chronicle Op-Ed: "Innovation keeps U.S. competitive"

Dave Cote, CEO of Honeywell, co-authored with Chairman Hochberg on American competitiveness and how exports can help reshape our economy in the next quarter century.

The Toledo Blade: "Building a clean economy"

Op-Ed with Senator Sherrod Brown on how exports create jobs and can help build a clean energy economy.

Washington Post's Capital Business: "Small firms have more options for exports"

Chairman Hochberg talks about how this is a record setting year for small-business loans at Ex-Im

Chairman Hochberg Leads Business-Development Mission in Latin America

Chairman Hochberg led business-development team to Latin America this quarter including Colombia, Brazil, and Panama to promote Ex-Im Bank financing available to support the purchase of U.S. goods and services by foreign buyers to meet their respective country's growing infrastructure needs. The Chairman identified opportunities available to U.S. exporters pending the U.S. Free Trade Agreements. In Panama, Chairman Hochberg noted, "Ex-Im Bank supports Panamanian companies as productive partners with U.S. exporters for the mutual benefit of our countries. The free trade agreement with Panama will allow the Bank to harness additional opportunities in infrastructure and other key sectors and improve U.S. access to Panama's $20 billion services market."

Colombia and Brazil have been highlighted as key markets for U.S. investment in particular and Ex-Im Bank is eager to continue financing U.S. exporters as these markets develop. Ex-Im Bank staff is available for more information by going to Ex-Im's website at  http://www.exim.gov/.

Business Development Abroad

To kick-off the new fiscal year, the Chairman's business outreach travel is to Sub-Saharan Africa and China to promote the purchases of U.S. goods and services. The Chairman will be visiting to cultivate the Bank's ongoing engagement with these regions.

Looking Ahead

Infrastructure

Infrastructure exports topped $21 billion this fiscal year in Ex-Im Bank export financing. In Brazil and India, Ex-Im Bank's business development group capitalized on the demand for infrastructure, identifying key industries for support like transportation and renewable energy.

Deal Highlight:
Kazakhstan Temir Zholy (GE- Erie, Penn.) - Ex-Im Bank's Board of Directors approved a $425 million direct loan to support the sale of 196 GE Evolution Series locomotives and locomotive kits manufactured by GE Transportation Systems in Erie, Pa., to JSC Lokomotiv, a wholly owned subsidiary of Kazakhstan Temir Zholy (KTZ), the state-owned, national railway of Kazakhstan. The contract is GE's largest to date with KTZ since it began selling to the railway in 2003 and is the first contract supporting locomotive kits for new GE diesel locomotives. According to company records, the sale will directly support 530 jobs at GE's Erie and Grove City, Pa., facilities with additional jobs at many of GE's U.S. suppliers, bringing the total estimated number of U.S. jobs supported to approximately 2,900.

Aircraft

Aircraft financing experienced rapid growth this fiscal year with financing topping off at $12.4 billion - a 130% increase since fiscal year 2008. Ex-Im Bank anticipates financing a significant number of aircraft transactions due to the first delivery of the 787 Boeing aircraft to ANA in Japan. This delivery was not only an important development for Boeing, but also for Ex-Im Bank in 2011 in supporting Boeing to launch this aircraft.

Deal Highlight:
Hawker-Beechcraft (Wichita, Kan.) - In August, Ex-Im Bank approved a $76 million direct loan to support the export of 10 new Hawker-Beechcraft business jets and turbo-prop aircraft. The jets are being exported to a buyer in Beijing, China. This deal could potentially spur $800 million in U.S. exports over 2 years and allows Ex-Im Bank to re-engage in the Chinese market and build ties with the Industrial and Commercial Bank of China (ICBC).

Renewable Energy

Ex-Im Bank has a congressional mandate to support renewable energy and environmental exports. This fiscal year, Ex-Im Bank authorizations topped over $700 million, a historic level of support for U.S. exports related to solar-energy production.

Deal Highlight:
First Solar (Perrysburg, Ohio) - Chairman Hochberg attended an event in Perrysburg, Ohio with Senator Sherrod Brown to announce the financing of $455 million to support the manufacturing facility, First Solar Inc., to export solar-energy products to Ontario, Canada. Additionally, Ex-Im Bank financed nearly $118 million to support First Solar exports to India. Per Chairman Hochberg's discussion with First Solar's CEO Robert Gillette, this financing supported 550 jobs in Ohio.

One of Nine: Spotlight on Colombia

Colombia is the fastest growing markets in the Bank's portfolio, reaching number one in authorizations for Ex-Im Bank closing at over $3.7 billion. This level of financing represents a sharp increase from the Bank's total portfolio of $127 million in Colombia in fiscal year 2008.

Key transactions took place this year in Colombia in the oil and refinery industry. In May 2011, the Bank approved $2.84 billion in financing to support Reficar, an oil refinery company. And in February, the Bank financed a $420 million medium-term loan guarantee facility and a $459.8 million long-term loan guarantee facility to Ecopetrol S.A., Colombia's national oil company. The purchases of equipment and services from large and small U.S. companies will be used to develop oil and gas reserves, improve existing oil field production and upgrade refineries.

On December 6, Ex-Im Bank will be hosting with the Embassy of Colombia, "Infrastructure Opportunities in Colombia," an event to engage U.S. companies on the exporting and investing opportunities in Colombia.

Looking Ahead FY2012

2012 Goals

• Support Goals of National Export Initiative - continue the financing of U.S. products and services to double U.S. exports by 2015.
• Increase Small Business Authorizations & Transactions - create new products and engage new partners to focus on reaching out to more small businesses.
• Government at the Speed of Business - target 80% of all Ex-Im Bank's transactions to be completed within 30 days.
• Increase Infrastructure & Renewable Financing - meet global need for infrastructure demand and capitalize on new opportunities.

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Go onto Ex-Im Bank's website, www.exim.gov, for upcoming information on the 2012 Ex-Im Bank Annual Conference.

Ex-Im Bank is an independent federal agency that helps create and maintain 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 loan guarantees, export-credit insurance, and financing to help foreign buyers purchase U.S. goods and services.

Ex-Im Bank is self-sustaining and is able to cover all operating costs and potential losses while also producing revenue. The Bank has generated $1.9 billion for U.S. taxpayers over the past five years.

Follow Ex-Im Bank on Twitter at http://twitter.com/eximbankus. Join the Ex-Im Bank network at http://www.linkedin.com/company/export-import-bank-of-the-united-states.  

 

                 

Ex-Im Deal Highlights

                       

PEMEX (Various U.S. Exporters)                                                                                                                                   $1  billion in authorizations for Petroleos Mexicanos (Pemex), Mexico's  national oil-and-gas company. The authorizations will support sales of  U.S. equipment and services to Pemex for its onshore and offshore  projects. The authorizations include a $200 million small-business  facility to finance Pemex's purchases from U.S. small businesses across  the country.                                                                                                                                                 Supply-Chain Financing                                                                                                                                   Ex-Im  Bank recently approved a Supply Chain Finance Guarantee - a 90 percent  guarantee to support up to $450 million of liquidity from JPMorgan Chase  Bank, N.A. to small and medium-sized supplies of Caterpillar Inc. This  program is designed to help qualified Caterpillar suppliers obtain cash  more quickly and increase liquidity to fulfill new orders.