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New Policy to Aid Small Business Exports of Goods and Services

November 18 , 2009
World Trade/Interactive

The Export-Import Bank of the United States announced this week that it has raised the upper limit of its small business multi-buyer export credit insurance policy, a move designed to allow more small businesses to export their goods and services more easily. Specifically, U.S. exporters designated as small businesses under Small Business Administration standards, and with annual export credit sales of $7.5 million or less, are now eligible for enhanced coverage under Ex-Im Bank’s short-term small business multi-buyer insurance policy. Other policy enhancements include no first loss deductibles, discounted insurance premiums and the receipt of cost-free exporter performance risk protection for lenders financing receivables for qualified exporters.

The broadened program eligibility will be effective Dec. 1 for new small business multi-buyer policy applicants. Current Ex-Im Bank multi-buyer policyholders who previously were ineligible for coverage enhancements but are eligible under the new ceiling will be offered conversions to the enhanced policy.