Ex-Im Bank Launches Simpler Letter of Interest Application
May 6, 2014
(Ex-Im Bank)
New Online Format Makes It Easier for U.S.
Businesses to Finance Exports
Washington, D.C. – The Export-Import Bank of
the United States (Ex-Im Bank) today activated
an updated online Letter of Interest
application, designed to accelerate the
process of financing exports. The new tool's
interactive format guides U.S. bidders in
filling out and submitting applications for
Letters of Interest.Ex-Im Bank uses these
pre-export documents to notify prospective
buyers that the Bank is willing to consider
financing for an export transaction.
Customers also can still take advantage of a
reduced application fee when submitting
applications online, as they did with the
former application.
"We want to make it as simple as possible for
U.S. businesses to secure Ex-Im Bank Letters of
Interest, which empower American entrepreneurs
to win deals by delivering increased confidence
to potential buyers," said Ex-Im Bank Board
Chairman and President Fred P. Hochberg. "This
innovative tool removes small administrative
hurdles so American exporters can focus on
growing their businesses and creating more U.S.
jobs."
To help customers save time, the new format
auto-calculates amounts for eligible financing,
and incorporates enhanced features, such as the
ability to save and reuse contact information.
The new Letter of Interest process also enables
customers to see the status of their
applications.Whenever needed, customers can
print and renew approved Letters of Interest
via Ex-Im Bank's secure customer
portal, Ex-Im Online.
The new Letter of Interest application is the
first of several online applications Ex-Im Bank
plans to roll out over the next two years, as
part of its Total Enterprise Modernization
effort—a multi-year initiative to modernize
systems infrastructure, update business
processes and engage with customers in new and
improved ways.
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