U.S. Chamber Executive Director Douglas Hale described the benefits of The Export Import Bank of the United States before more than 25 local business leaders, gathered at Sergio’s for a Doral Business Council breakfast.
In his presentation, Hale explained the importance of an official import-export credit agency for many export businesses in Doral. Its mission is to assist in financing the export of U.S. goods and services to international markets.
On average, more than 85% of its transactions directly benefit U.S. small businesses, like so many in the Doral area, Hale advised.
While the Bank does not compete with private sector lenders, it takes on risks and assumes credit that private lenders cannot, helping to level the playing field for small to medium-size businesses, he said.
Over an 80-year period, the Bank has supported more than $567 billion of U.S. exports, primarily to develop markets worldwide.
The breakfast meeting, coordinated by International Committee Chair Efrain Sora, of Sora Global Insurance, is one of many educational and informational opportunities the DBC provides its membership.