Helping small businesses obtain export financing

This post is sponsored by the Export-Import Bank of the United States.
Kenneth Tinsley
Expanding into new markets can be a daunting challenge for any business, but it is especially risky for small businesses. The Export-Import Bank of the United States works with companies of all sizes to get them the capital they need to safely expand internationally. In 2015, nearly 90% of the bank’s transactions, more than 2,300, directly supported U.S. small businesses.
In this post, Kenneth M. Tinsley, senior vice president of credit and risk management and acting chief risk officer, discusses how the bank is working to help small businesses with international expansion. He talks about available trade finance products and how the EXIM Bank can help.
Question: Tell me about the role the EXIM Bank plays in international finance?
Kenneth Tinsley: Particularly with respect to trade finance, we help fill in the gaps not funded by the private market to support U.S. exporters when they sell products oversees on a credit basis. And with small businesses, there is often a big gap. Small businesses that are exporting aren’t generally attractive to private insurers. Because they’re small, they can’t take on the risks on their own. Our role is to step in and fill that void when businesses aren’t able to assume the credit risk.
Q: Can you tell us how the bank helps small businesses?
KT: Before they even start exporting, many businesses need working capital. We …