The Export-Import Bank of the United States (US Exim) has launched a revolving credit product, Global Credit Express (GCE), to provide smaller American exporters with additional liquidity.
The GCE facility will enable small business exporters to access up to US$500,000 for a period of six to 12 months. During the programme’s pilot phase, an initial US$100mn in financing will be made available through a select number of lenders nationwide.
Following the pilot, US Exim will evaluate the results of the direct loan programme and determine whether to increase the available amount. The product is specially designed to finance the business of exporting, rather than specific export transactions, the bank says in a statement.