Ex-Im Foregone Deal Of The Day: $2.5 Million Supporting Jobs In Georgia

On June 30, Congress allowed the charter for the U.S. Export-Import Bank to lapse. U.S. businesses of all sizes have now lost access to the support they need to export across the globe.

Before June 30, Ex-Im provided financing support that allowed U.S. companies to export on a daily basis, supporting U.S. jobs and economic growth in the process.

On this day last year, the Ex-Im Bank approved a credit insurance policy to help the House of Cheatham in Stone Mountain, Ga., export $2.5 million worth of personal and beauty care products.

Without Ex-Im, the House of Cheatham wouldn’t have access to the credit insurance they need to export their products and compete on the global market.┬áTheir foreign customers will now turn to companies in countries that provide robust export support.

The longer that Congress waits to reauthorize Ex-Im, the more U.S. jobs they put at risk.

Until Ex-Im is reauthorized, the Exporters for Ex-Im Coalition will highlight a new deal each day that would not have happened without Ex-Im financing.

In total, Ex-Im authorized more than $440 million in financing to 64 companies on July 8 since 2010. This financing support helps to level the playing field for American exporters in an increasingly unfair international arena.

Without Ex-Im Bank, U.S. companies are defenseless when competing against foreign companies that receive aggressive support from their home governments.

Congress must act to renew Ex-Im’s charter and protect American jobs.

You can read stories from more than 100 small businesses that explain how they have benefited from a partnership with Ex-Im Bank on our website: exportersforexim.org/category/stories/