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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