Rep. Meng Proposes Bump in Ex-Im Small Biz MandateMay 19, 2015
NSBA and its international trade arm, the Small Business Exporters Association (SBEA) recently sent a letter in support of legislation (H.R. 2239) offered by Rep. Grace Meng (D-N.Y.) that would increase the targeted level of financing for small-business exports by the Export-Import Bank of the United States (Ex-Im). As a member of the House Committee on Small Business and Ranking Member on the Subcommittee on Contracting and Workforce, Meng has been an outspoken proponent for ensuring small businesses access to government programs, particularly when it comes to export finance offered by Ex-Im Bank.
In 2002, Congress increased the proportion of financing Ex-Im must make available for small business to 20 percent. After nearly thirteen years at that level, H.R. 2239 would increase the mandate to 25 percent, an increase that NSBA and SBEA views as long overdue.
Export credit provided by Ex-Im Bank is a critical tool used by small businesses to finance their exports. Without this tool, many small-business exporters would be unable to extend credit terms to foreign buyers, thus hampering their ability to compete with foreign suppliers.
NSBA has been an outspoken proponent of Ex-Im Bank, and applauds Congresswoman Meng’s efforts to strengthen its offerings for small exporters.
Please click here to view the NSBA/SBEA letter of support.