U.S. small business exporters often wear many hats when managing their day-to-day operations – and time can be in short supply. With this in mind, EXIM’s Office of Small Business has released the EXIM Toolkit, an interactive portal that provides guided assistance to Export Credit Insurance (ECI) prospects.
After a prospect has submitted a consultation request, an EXIM staff member from the Office of Small Business will schedule a convenient time to review the Toolkit, and determine the best policy for their needs, answer technical questions, and provide assistance with their policy application – all in one setting.
Toolkit features include:
- Rate comparisons among short-term ECI policies, including the newly introduced Equity Express Select (EQS) policy, an insurance tool created specifically to help underserved companies begin or expand their export business. Small business exporters will receive personalized guidance about which type(s) of policies may be most suitable for their needs during a Toolkit session.
- Immediate visibility whether a destination country qualifies for EXIM support. The coverage eligibility of countries provided in an EXIM consultation request will automatically populate on the Toolkit’s welcome screen.
- Clarification about EXIM’s 50.1% U.S. content requirement, as well as a review of the exporter’s small business operational size qualifications.
- Guidance with obtaining an active SAM.gov registration and UEI number, a requirement from the U.S. General Services Administration (GSA). All firms seeking federal financial assistance from the U.S. Government are required to obtain an active SAM.gov registration and a UEI number.
- Connections to additional government resources to support your international growth. Small business exporters may be interested in trade counseling, market analysis, business matchmaking, and related offerings. An EXIM staff member will provide personalized introductions upon request to staff in federal and/or state agencies offering these types of solutions.
- Assistance with preparing a policy application.
With customer service tying into an EXIM Strategic Goal of promoting the integrity and transparency of its operations and processes, the Toolkit was created specifically for short-term Export Credit Insurance (ECI) prospects to streamline EXIM’s insurance authorization process and enhance the prospect-to-customer experience. In FY2023, small businesses represented approximately 87% of EXIM’s total authorizations across all programs, and ECI remains the most utilized program for small businesses.
To get started, click here to schedule a free consultation with an EXIM trade finance specialist.
