80 Companies Tell GOP to Stop Playing Games with Ex-Im Reauthorization
Last year, financing from the Export-Import Bank supported hundreds of thousands of jobs and over $27 billion in U.S. exports, but several HouseRepublicanleaders are ready to let its charter expire on June 30. If Republicans let the Export-Import Bank shut down, they will have to answer to thousands of small and medium-sized American businesses who receive assistance through the Bank that helps them stay competitive in the global marketplace, including the 80 companies that recently wrote to Congress in support of Ex-Im:
Ace Manufacturing & Parts Company: “We use Ex-Im Bank to extend credit terms to our overseas customers. Congress needs to reauthorize Ex-Im bank so small American businesses can stay competitive in the global market and create new jobs.”
AirTractor: “The Ex-Im Bank is critical to our business and our ability to create and sustain jobs. Air Tractor is owned by its 265 employees, who would suffer dramatically if Congress fails to re-authorize the Ex-Im Bank.”
Amana Tool: “Ex-Im Bank’s credit insurance lets us comfortably ship larger orders, allowing us to more rapidly expand our business. Without it, our hands would be tied.”
Auburn Manufacturing, Inc.: “The Export-Import Bank is especially important to small and medium-sized businesses, which account for nearly 90 percent of the Bank’s transactions. Our company, Auburn Manufacturing, Inc., is one of those. Insuring our export shipments with Ex-Im allows us to provide the same payment terms to our export customers as we do for our domestic customers. The result is more export business for us at a low administrative cost.”
Chemex, LLC: “Ex-Im programs are invaluable to the success of our business. Without it, we wouldn’t have been able to hire over a hundred local subcontractors and purchase millions of dollars of local materials.”
Combustion Associates, Inc.: “The projects that the Ex-Im Bank supports not only create positive change for the lives of the local people and communities, but also generate global creativity and economic prosperity on a profound level. Had it not been for the guidance, mentorship, and assistance of the Ex-Im Bank, many small and medium-sized exporters that use the vast resources of the institution would not have the success and prosperity they do today.”
Davenport Aviation, Inc.: “Private banks just do not offer a large enough line of credit to small companies like ours that would let us fill our orders. Our business needs, uses, and has had great success with Ex-Im Bank. It’s necessary for small business.”
DSC Dredge:“Without Ex-Im, we would basically cut our revenues and our workforce in half.”
Innova Technologies: “If not for Ex-Im, we wouldn’t be pursuing this type of work. With Ex-Im, I don’t have to think ‘what happens if they don’t pay?’ or ‘what happens if their currency goes down?’ I can just focus on my job, which is engineering, construction management and bringing money into the U.S. economy.”
MGN International:“Without Ex-Im reauthorization, we will simply be leaving those revenues on the table for other countries.”
OptiLedge LLC: “Congress needs to reauthorize the bank to allow small American businesses reach their full potential as export powerhouses. Our economic future depends on it as do American jobs.”
Sullivan – Palatek, Inc.:“There is no way that the private sector banks and insurers will be able to replace Ex-Im.”
Will Reps. McCarthy, Scalise, and Hensarling listen to business owners, Speaker Boehner, and others who recognize the important role of the Ex-Im Bank? Or will they continue to obstruct and tell these 80 businesses and thousands of others across the country that they are on their own?