Rivco Businesses Profit by Exports to Foreign Countries
The Riverside County Office of Foreign Trade (operating under the umbrella of the County’s Economic Development Agency) has some important information to share with firms who are in the export business.
41,000 Riverside County jobs depend on exports to other nations and the Export-Import Bank of the United States can and does loan money to business in the County of Riverside and “Inland Empire” region exporting products made or produced here (a similar number of jobs in San Bernardino County are export-dependent).
The Export-Import Bank put $21 billion in loans in the hands of business and another $4.36 billion in the hands of small business in the past fiscal year to help exporting companies meet their financial needs. Loaning that kind of green to local business helps create jobs and put the economy on its feet.
Companies THAT ARE EXPORTERS are eligible for loans. Export-Import Bank this year helped a Riverside County-based firm in Corona with a $67 million dollar loan. That loan enabled them to hire 37 new workers, expand production, and increase exports. This, after numerous lending institutions turned down financing for that company.
The “Ex-Im” Bank plays a key role in saving and creating jobs with the local business community. Had this institution not been in existence some 37 new jobs in Corona would not exist right now.
The Ex-Im Bank is the official export-credit agency of the United States. They are in the 75th year of operation and help to create and maintain U.S jobs by financing the sale of U.S exports around the world. They provide loan guarantees, export-credit insurance, and direct loans. Exporting companies looking for assistance should visit www.exim.gov or contact the Office of Foreign trade at www.rivcoeda.org/usa.ca