As the Export-Import Bank of the United States (EXIM) continues to highlight the value that American-made goods and services bring to the global marketplace, its domestic financing initiative underscores that message by helping U.S. companies grow and expand through exporting.
The Make More in America Initiative makes EXIM’s existing medium- and long-term loans, loan guarantees, and insurance available for export-oriented domestic manufacturing projects. This transformative initiative aims to revitalize American manufacturing, strengthen the resiliency of supply chains, bring good-paying jobs back home, and level the playing field for American companies as they compete around the world.
"The Make More in America Initiative is designed to enhance the inherent value that American-made goods and services contain. That will help U.S. companies capitalize on international opportunities and compete successfully around the world," said EXIM Chair Reta Jo Lewis.
EXIM Chair Reta Jo Lewis highlights how the Make More in America Initiative can be a gamechanger for helping American companies grow and expand through exporting. You can also view the video here.
Sustaining U.S. Supply Chains
Many American manufacturers — especially small- and medium-sized businesses — struggle to obtain the financing they need to compete for global sales. With a mission of supporting American jobs by facilitating U.S. exports, EXIM stands ready to assist companies of all sizes and all types with export finance solutions that will help them grow.
The Make More in America Initiative builds on EXIM’s current products and services, providing access to capital needed to fill critical supply chain gaps. The initiative has particular focus on small business exports as well as exports that are environmentally beneficial or transformational.
"The Make More in America Initiative complements EXIM’s portfolio of products and services. This powerful tool encourages businesses of all sizes, and in all sectors, to expand their domestic manufacturing footprint through exporting — and it supports American jobs in the process," said Chair Lewis. "Ultimately, it helps us make more in America so that we can export more from America."
Driving the Growth of Advanced Manufacturing
Since its launch in 2022, EXIM's Board of Directors has voted to support four MMIA projects, all of which are small businesses that will use the financing to expand their U.S. facilities to increase their exporting capacity and create additional jobs.
"Most companies just don't understand the tools and the support that can be derived from EXIM Bank, and they need to become more aware of the importance of exporting for American companies. The financing available under the MMIA Initiative is competitive, and in most cases, will fill a gap where a U.S.-based manufacturer may not be able to get the type of funding they need to support the growth. That's critical," said Venkee Sharma, Executive Chairman of Aquatech.
The minority-owned small business headquartered in Canonsburg, Pennsylvania, has been an EXIM customer for more than 25 years. The company received the first MMIA transaction, a direct loan for more than $4.7 million that will support the purchase of services and equipment to modernize the company's existing laboratories and quadruple the size of its facilities in Hartland, Wisconsin.
Helping U.S. Companies Take the Lead Globally
BETA Technologies, an electric aviation company based in Burlington, Vermont, received the second MMIA transaction, a $170 million loan for construction of a production facility that will support an estimated 400 jobs at its headquarters. The impact of the EXIM financing is already paying off in additional support for the company that manufactures electric aircraft and charging infrastructure.
"The depth and the rigor of the financing diligence that EXIM did gave a whole lot of other people confidence to believe in our company," said Kyle Clark, Founder & CEO of BETA Technologies. "We used that as ability to tell the story of Beta maturing from a research and development company to a product development company to an engineering company — into a manufacturing company. And EXIM is really the defining step from that growth engineering company into a manufacturing company."
The MMIA Initiative also has supported two other small businesses, with numerous projects across the nation in the pipeline:
- Packwell Inc. for construction of packaging and warehouse facilities in Houston, Texas.
- ESS Inc. for construction of battery storage production facilities in Wilsonville, Oregon.
To find out how EXIM can help your business compete in the global marketplace, schedule a free consultation with a trade finance specialist and launch your export journey today.
