The Export-Import bank of the
United States (Ex-Im Bank) assists in financing the exports of U.S goods and
services to international markets. The Ex-Im Bank enables U.S companies to
maintain and create U.S jobs and contribute to a stronger national economy by
turning export opportunities into real sales. It provides export-financing
products that fill gaps in trade financing. They assume credit and country
risks that private sectors are unable or unwilling to accept. The Ex-Im Bank
also matches the financing that other government provides to their exporters.
The services that the Ex-Im Bank provides include: Working capital guarantees
(pre-export financing), export credit insurance, and loan guarantees and direct
loans (buyer financing). More than 85%
of transactions directly benefit U.S small businesses.
Marion C.
Blakey, President & CEO
of Gulfstream supports the Ex-Im Bank by saying that it is “an essential partner for American job creating manufacturers, and for many supply chain companies that support them.” The Ex-Im
Bank has made a strong commitment to supporting not only GA, but also space
systems and commercial aviation. The Ex-Im Bank actually returned more than
$1.1 billion last year to the treasury.
The Ex-Im
Bank is under criticism for allegedly favoring special interests ahead of
that of the U.S. taxpayer.
Aside from the criticism I find that the Ex-Im Bank is more good than it
is bad. The Ex-Im Bank support is the only way many U.S aerospace manufacturers
have a fair fight. The biggest beneficiaries of these sales are small and
mid-sized companies that supply major manufacturers with parts, systems and
equipment. Also that fact that it actually returned $1.1 billion to the U.S
treasury heavily supports its existence.