Skip to Main Navigation. Each navigation link will open a list of sub navigation links.

Skip to Main Content

Apply to the University of Wyoming

Global Resource Navigation

Visit Campus
Download UW Viewbook
Give to UW

Wyoming Business Tips for Feb. 19-25

February 10, 2017

A weekly look at Wyoming business questions from the Wyoming Small Business Development Center (WSBDC), part of WyomingEntrepreneur.Biz, a collection of business assistance programs at the University of Wyoming.

By John Privette, WSBDC international trade specialist

“Is there a way to protect against nonpayment by international customers?” Bob, Cheyenne

By protecting exporters’ accounts receivable, the Export-Import (EXIM) Bank Express Insurance is a product that provides significant benefits with little hassle.

Express insurance empowers exporters to overcome obstacles in the way of increasing international market share. Use express insurance to: insure against nonpayment by international customers; cover both commercial, such as bankruptcy, and political, such as war or the inconvertibility of currency risks; and arrange financing through a lender by using insured receivables as additional collateral.

Benefits of express insurance are: risk reduction -- safeguard against catastrophic losses from buyer nonpayment; increased competitiveness -- unlock the ability to offer buyers the credit necessary to expand into new markets and boost sales with existing customers; and improved liquidity -- accelerate cash flow by borrowing against foreign receivables.

If you answer yes to the following criteria, EXIM express insurance may be a financial option: Are you a small-business owner? A small business is determined by the Small Business Administration size standards. And have you been in business for three years with one year of exporting experience?

EXIM credit insurance is suitable for companies that have experience selling on-credit terms both domestically and internationally. Things to remember:

-- Is your business profitable? Your business must show that it has a positive net worth.

-- Are you exporting products that meet U.S. content requirements? Your export products/services must have more than 50 percent U.S. content.

-- Are you exporting military products? EXIM cannot support the export of military/defense-related products or to military buyers.

-- Are you shipping from a U.S. port? EXIM can only support goods shipped from U.S. ports.

For more information on EXIM financial solutions for small-business exporters, visit the website at www.exim.gov/.

A blog version of this article and an opportunity to post comments are available at www.wyomingsbdc.org/blog1/.

The WSBDC is a partnership of the U.S. Small Business Administration, the Wyoming Business Council and the University of Wyoming. To ask a question, call 1-800-348-5194, email wsbdc@uwyo.edu, or write 1000 E. University Ave., Dept. 3922, Laramie, WY, 82071-3922.


Share This Page:

Contact Us

Chad Baldwin

Institutional Communications

Bureau of Mines Building, Room 137

Laramie, WY 82071

Phone: (307) 766-2929

Email: cbaldwin@uwyo.edu

Find us on Facebook (Link opens a new window) Find us on Twitter (Link opens a new window)

1000 E. University Ave. Laramie, WY 82071
UW Operators (307) 766-1121 | Contact Us | Download Adobe Reader

Twitter Icon Youtube Icon Instagram Icon Vimeo Icon Facebook Icon

Accreditation | Emergency Preparedness | Employment at UW | Gainful Employment | Privacy Policy | Accessibility Accessibility information icon