R.G. Edmonson, Associate Editor | Dec 20, 2011 5:24PM EST
The Export-Import Bank of the United States posted its third straight record year in 2011 for financing exports from U.S. companies, the bank announced Tuesday.
The bank exceeded $32 billion in financing that supported $42 billion in exports, according to the bank’s annual report. More than 3,600 companies employing some 290,000 workers received financing.
Small business financing in 2011 was $6 billion, up 70 percent since fiscal 2008. The bank financed $23 billion in infrastructure-related projects and $13.2 billion in the transportation sector.
“Our financing of U.S. exports supports good-paying American jobs that sustain communities,” said Ex-Im Chairman and President Fred P. Hochberg “We are driven by dedication, leadership and expertise that produced a record-breaking year.”
The bank could do even better next year if Congress agrees to increase the financial institution's lending limit.
Contact R.G. Edmonson at bedmonson@joc.com. Follow him on Twitter @BobinWash.
