The Export-Import Bank of the United States (EXIM) awarded eight EXIM customers representing a cross-section of American innovation as its Exporters of the Year at its 2022 Annual Conference. Two of those companies are in the aviation industry. The recipients of this year’s awards are:
Aventure International Aviation Services
Founded in 2001, Aventure Aviation is located in Atlanta, Georgia, and is an award-winning supplier of aircraft parts to airlines and maintenance facilities worldwide. An EXIM customer since 2007, utilizing EXIM support to cover its foreign receivables, the minority-owned company has shipped aircraft parts to more than 56 countries.
“EXIM Insurance is part of our foreign business sales strategy. The ability to get insurance allows us to sell to a particular customer up to the limits provided by EXIM coverage and vice versa. If EXIM does not guarantee insurance coverage, we are not going to sell to that customer. This is a major business strategy for growth that all SMEs should use as most of them do not have international sales coverage or latest credit ratings on foreign customers that EXIM can provide.” – Zaheer Faruqi, CEO
Founded in 2005, Spirit Aerosystems in one of the world’s largest manufacturers of aircraft components. Headquartered in Wichita, Kansas, Spirit is a leader in technical innovation, support for U.S. small businesses and demonstrates that responsible American manufacturing can successfully compete in the global marketplace.
“EXIM’s supply chain finance program is crucial for medium and small U.S. aerospace manufacturers to compete globally and meet increasing demand for commercial aircraft. EXIM’s programs help sustain and grow well-paying manufacturing jobs at supply chain companies across the United States.” - Mark Suchinski, SVP, CFO, Spirit AeroSystems
Haasen Tara Feed, Incorporated
Headquartered in Salt Lake City, Utah, Haasen Tara Feed is a premier global provider of alfalfa hay. The woman- and minority-owned company was founded in 2017 with a mission of providing comprehensive feed solutions for dairy farmers around the world and value-added service for hay farmers in the Midwest. Exporting for more than seven years, Haasen Tara Feed has shipped its product to customers throughout Asia and the Middle East, applying EXIM support to maintain its cash flow.
“EXIM can help you grow big and is willing to listen small.” – Zach Xu, Founder
Hedges Family Estate
Located in Benton City, Washington, Hedges Family Estate has partnered with EXIM since 1989. Producing award-winning and certified biodynamic and organic wine, Hedges has expanded its exports to 25 countries with international sales comprising nearly 20 percent of the small business’ total revenue.
Jeco Plastic Products
Jeco Plastic Products is a global leader in the development and production of custom and durable plastic pallets. The Plainfield, Indiana-based company’s specialized printing industry products have been sold on every continent and have even made it to the International Space Station. With EXIM support, veteran owned Jeco has been able to protect itself against nonpayment by international buyers and increase its sales growth.
“EXIM Bank credit insurance saved our company from a financial disaster during the unexpected bankruptcy filing of a foreign company and provided us the ability to offer extended payment terms to overseas customers on an open account basis. We would not be where we are today without their products and personal support.” - Craig S. Carson, CEO
The Grasshopper Company
The Grasshopper Company is a family-owned business that was established in 1959 that manufactures commercial and residential mowers, snow removal equipment and ground care maintenance equipment. Located in Moundridge, Kansas, Grasshopper has used EXIM insurance since 2017 to mitigate risk from international buyers. Grasshopper products are currently sold in 54 countries.
“EXIM Short Term Single Buyer Policies have allowed us to focus on product development and relationships and to develop certain international markets to the extent that would not have been possible where the lack of familiar security mechanisms would otherwise limit our exposure.” – Trent Guyer, VP of Marketing & Global Digital Strategy
Alliance Rubber Company
Opened for nearly 100 years, Alliance Rubber Company is a woman-owned manufacturer of rubber bands based in Hot Springs, Arkansas. Alliance also offers packaging and promotional products for use in the home and workplace. Working with EXIM since 2007, Alliance currently exports to 60 countries.
Located in Wahpeton, North Dakota, WCCO Belting was established in 1954 and has since become a leading manufacturer of rubber belting products used for agricultural and industrial equipment. WCCO has been an EXIM customer since 2004, relying on EXIM support to strengthen the company’s global competitiveness.
“There is only one thing worse than not getting an order - and that is getting the order, shipping it, and not getting paid. Then you’re out for the cash and inventory. EXIM Bank ensures a company gets paid for the products it sells, supporting its ability to compete worldwide.” - Thomas “Tom” Shorma, Integration Advisor/Former CEO of WCCO Belting
“EXIM is dedicated to facilitating the exporting success of U.S. small business as they compete globally,” said EXIM President and Chair Reta Jo Lewis. “The eight exporters recognized this year have contributed greatly to fulfilling EXIM’s mission of supporting American jobs by facilitating U.S. exports. Congratulations to each business.”
U.S. companies, particularly small businesses, can utilize EXIM’s financing tools and resources to increase their international sales, showcase their American made products, and create and sustain American jobs. By partnering with EXIM, exporters can mitigate the risk of nonpayment on international sales, offer credit terms to foreign buyers and access working capital loan guarantees.