The Export-Import Bank of the United States (EXIM) is the official US export credit agency. It provides government-backed loans, loan guarantees, and export credit insurance to US exporters — filling gaps where private financing is unavailable or too risky for foreign-buyer transactions.
Established in 1934, EXIM's mission is to support US jobs by financing US exports when private credit is not available on reasonable terms. EXIM is independent and self-sustaining — it charges fees and interest that typically allow it to operate without net cost to taxpayers. Its charter is renewed periodically by Congress. EXIM offers several key products. Working Capital Guarantees: EXIM guarantees up to 90% of a commercial bank loan to a US exporter, freeing up borrowing capacity to finance export production. Export Credit Insurance: protects exporters against non-payment by foreign buyers (political risk or commercial default). Medium and Long-Term Guarantees and Loans: support large capital-equipment exports and project finance in emerging markets where private risk appetite is limited. For small businesses specifically, EXIM has a Small Business division and delegated lending authority for banks — making it possible to access EXIM-backed export financing through participating commercial lenders without dealing with EXIM directly. EXIM also offers Express Insurance (streamlined policies for small exporters) and working capital guarantees with simplified documentation for smaller transactions.
No. Approximately 90% of EXIM transactions by number (not dollar volume) involve small businesses. EXIM has dedicated small-business programs including Express Insurance for smaller exporters and delegated authority through community lenders. EXIM's Working Capital Guarantee is particularly useful for small manufacturers that need to borrow to fulfill export orders.
Both programs support US small-business exporters, but they work differently. SBA Export Working Capital Loans and Export Express Loans are SBA-guaranteed lending programs administered through the SBA network. EXIM programs focus specifically on export transactions — financing production for export, insuring foreign receivables, or guaranteeing loans to foreign buyers of US goods. The programs can be complementary.
No. EXIM is prohibited from doing business in certain countries (primarily sanctioned countries: Cuba, North Korea, Iran, Russia, Syria) and temporarily suspends coverage in markets deemed too risky. EXIM's country limitation schedule lists current restrictions. For most markets in Latin America, Asia, Africa, and Europe, EXIM has active coverage.
Export credit insurance protects a US exporter against non-payment by a foreign buyer — whether due to commercial risk (buyer insolvency or payment default) or political risk (war, currency restrictions, government expropriation). EXIM's insurance policies typically cover 90–95% of the invoice value, letting the exporter offer open-account terms to foreign buyers without absorbing the full non-payment risk.