MBDA and Ex-Im Bank Partner to Increase Export Financing
December 7, 2012
(Ex-Im Bank)
Global Outreach Alliance to Facilitate Global Expansion and U.S. Job Creation
The Minority Business Development Agency in cooperation with Ex-Im Bank issued
this joint release:
WASHINGTON — The U.S. Commerce Department’s Minority Business Development Agency
(MBDA) and the Export-Import Bank of the United States (Ex-Im Bank) announced a
Global Outreach Alliance during the National Minority Enterprise Development
(MED) Week Conference on December 6, 2012. Both agencies aim to leverage their
collective capabilities and resources to promote global projects that increase
the opportunities for minority-owned business (MBEs) to export U.S. goods and
services and increase the participation of minority-owned businesses in Ex-Im
Bank’s financing programs.
The Global Outreach Alliance between MBDA and Ex-Im Bank will seek to increase
access to capital for minority-owned firms and encourage the participation of
minority-owned businesses in international commerce that ultimately will lead to
job creation in America. “For the clients of MBDA, this partnership means that
our network of MBDA Business Centers will have a new portfolio of financial
resources to support their expansion into global markets,” said David Hinson,
MBDA National Director. “So worries like fulfilling export orders, getting paid,
and even extending credit to buyers are alleviated. We look forward to working
with Export-Import Bank and helping more minority-owned firms turn export
opportunities into real sales that help to maintain and create U.S. jobs.”
“This important agreement formalizes our inter-agency partnership for
substantially supporting minority entrepreneurs, and helps undergird more jobs
for Americans,” said Ex-Im Bank Chairman and President Fred P. Hochberg. “Here
at Ex-Im we work especially hard to provide help to women- and minority-owned
small business exporters, which is why I’m pleased to report that group is one
of our fastest growing market segments, with loans up almost 17 percent this
year – a new record.”
For decades, MBDA has supported expanded trade through minority-owned and
operated businesses recognizing that minority-owned firms have the most
favorable export attributes of any sector of the U.S. economy. With President
Obama’s launch of the National Export Initiative (NEI), the focus on minority
exporters and their ability to support domestic job growth has taken on added
importance. As such, MBDA is ramping up its expertise, programs, services and
network of partners to unleash the export potential of this untapped sector.
More than 85 percent of Ex-Im Bank’s transactions in recent years have been made
available for the direct benefit of U.S. small businesses. During this past
fiscal year, Ex-Im Bank authorized a historic high of $838 million to support
exports by 685 U.S. small and medium-sized businesses owned by minorities or
women.
To learn more about MBDA, Ex-Im Bank and the Global Outreach Alliance please
visit www.mbda.gov and www.exim.gov.
About the Minority Business Development Agency (MBDA)
MBDA, www.mbda.gov, an agency
within the U.S. Department of Commerce, promotes the growth and global
competitiveness of the minority business community, making them better equipped
to create jobs, impact local economies, and compete successfully in domestic and
global marketplaces. With a nationwide network of 41 business centers and a rich
portfolio of strategic partners, MBDA assists minority entrepreneurs and
business owners with consulting services, contract and financing opportunities,
bonding and certification services, building business-to-business alliances and
executive training.
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