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Partnership formed between EXIM and California Centers for International Trade Development

LONG BEACH - 01/27/06 - California-based companies will have an edge in selling their products and services in foreign markets due to a new partnership between the Centers for International Trade Development (CITD) and the Export-Import Bank of the United States (EXIM).

The new initiative calls for the CITD to promote and facilitate EXIM's City-State Partners Program, a national marketing initiative that brings export financing services to small- and medium-sized US companies through cooperation with state and local governments and private sector organizations.

With the addition of the CITD's network of 14 offices at selected community and city colleges around the state, EXIM now has 45 city-state partners in 35 states, plus the Commonwealth of Puerto Rico.

"Small businesses offer the greatest potential for export and job growth within the US economy," said James Lambright, EXIM acting president and chairman, after signing the partnership at CITD's Long Beach regional office this week.

"Our partners ensure that these small firms have access to the same expertise and export opportunities as large companies and foreign competitors," he said.

Over the past five years, EXIM has helped 848 California companies in 232 communities export $9.5 billion in goods and services.

One such company is Signal Hill-headquartered Integrated Medical Systems (seen above) which was able to export portable intensive care units to military and civilian buyers in Finland, Saudi Arabia, China, and several other countries thanks to a $500,000 working capital guarantee from the bank.

"Although we have worked with EXIM in the past, this partnership will enable us to work in a more coordinated way to help small companies realize international business opportunities and by combining our marketing strengths we will reach even more exporters," said CITD Statewide Director Jeffrey Williamson.

According to Williamson, the CITD network - which is funded under the California Community Colleges Economic and Workforce Development Program - plans to hold at least 12 trade seminars over the next year in conjunction with the bank.

The CITDs "can walk local businesses through the process of applying for a wide range of EXIM financing tools including working capital support, export credit insurance and loan guarantees that will enable them to better compete in growth markets abroad," he said.

In fiscal year 2005, the Washington, DC-based EXIM authorized nearly $14 billion in transactions supporting almost $17.9 billion in US exports. That represented 3,128 transactions, of which 2,617, or over 80%, directly benefited small businesses.

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