Company Expands With Help Of Government Export Bank
Alliance Rubber Company – Hot Springs, Arkansas
Alliance Rubber Company is the largest producer of rubber bands in the United States. Based in Hot Springs, Arkansas, the women-owned company strongly supports American-made products and has the motto, “Holding Your World Together.” Alliance is a user of the Export-Import Bank (Ex-Im).
Founded 91 years ago in Alliance, Ohio, Alliance Rubber Company relocated to Hot Springs in 1944. With 156 employees, Alliance ships its American rubber bands to 28 countries throughout the world, using Ex-Im credit insurance to make sure it receives payment for goods shipped overseas. “Ex-Im Bank gives us the peace of mind that allows us to export,” says Bryan Smith, Chairman of the Board.
Smith explains how Alliance plans to expand in the future and recognizes the value of exports to its business and job creation: “We plan on adding 15 jobs within the next year. But without exports, we’d have to cut between 5-10 jobs.”
Alliance has been using Ex-Im since 2006. Since that time, they’ve come to know Ex-Im as a reliable, trustworthy supplier of credit insurance. Without congressional reauthorization, however, Ex-Im’s charter will expire on September 30, 2014. “Ex-Im Bank provides a dependable service that helps small businesses export,” Smith says. “I strongly support Ex-Im Bank and urge Congress to do the same.”