4 Ways EXIM Bank Supports Small Business Service Exporters
Services comprise one-third of total U.S. exports. With America becoming more of a services-oriented economy, this sector is becoming an important source of value added growth and job creation ($751 billion in 2015, up from $219 billion in 1995).
Small businesses offering servicing face many challenges, including:
- Putting their business at risk if a foreign buyer defaults
- Losing business overseas to competitors because they're not extending credit
- Vetting foreign buyers for financial good standing
EXIM Bank provides support for those U.S. companies selling services internationally. EXIM supported nearly $375 million in services exports in 2015, led by engineering and consulting services, information technology and telecommunications services, and services related to oil and gas, and mining.
EXIM understands small business service providers and can support both services provided in conjunction with products (such as equipment) and stand-alone offerings.
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White paper sponsored by EXIM Bank