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U.S. Commercial Service and EXIM Take a Team-Based Approach for U.S. Exporters
July 15, 2021 Ken Click, Business Development Specialist

EXIM’s 12 Regional Export Finance Centers located throughout the United States also house representatives from the U.S. Commercial Service, an agency of the U.S. Department of Commerce, and the U.S. Small Business Administration, to assist U.S. exporters more efficiently. Each agency offers complimentary and valuable resources to support the growth of American businesses overseas. Those who are new to exporting can especially benefit from this partial list of U.S. Commercial Service products and programs:

  • Personalized export counseling such as how to identify and enter overseas markets, understand U.S. export and foreign import regulations, and resolve disputes
  • Export education and training through the Export Mechanics video series and other online resources
  • Market research reports, such as the Initial Market Check which gauges the market potential assessment of a product or service in a specific foreign market, and International Company Profiles which provide publicly-available information about a business, its products, key officials, and more
  • Finding overseas buyers and other important stakeholders through the Gold Key Matching Service; exporters traveling overseas to meet with pre-screened contacts can be joined by a U.S. Commercial Service trade specialist

After new international opportunities are identified, U.S. exporters can work hand-in-hand with EXIM to increase their competitiveness in the global marketplace through the use of trade finance products:

 

  • EXIM’s Export Credit Insurance enables eligible U.S. exporters to offer more favorable open account terms to foreign buyers rather than requiring them to either pay-in-advance, obtain costly letters of credit, or provide cash against documents
  • Insured exporters are also protected against buyer nonpayment due to commercial and political risks; the insurance can be applied to a single buyer or multiple buyers
  • Other trade finance products such as Working Capital Loan Guarantees which improve cash flow are also available

Make the most of government resources in your area and this team-based approach. Contact an EXIM trade finance specialist for a free consultation to get started.


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