Editor’s Note: Over 90 Missouri companies have received financing through the Export-Import Bank in Washington, D.C., and six Springfield companies are among them: 3D Corporate Solutions LLC, Custom Metalcraft Inc., Executive Coach Builders Inc., International Division Inc., Paul Mueller Co. and Tuthill Corp. U.S. Sen. Claire McCaskill, D-Mo., last week sent a letter, below, seeking their support to reauthorize the Ex-Im Bank, which was created in 1934 as the official export credit agency of the United States.I am writing to you and other Missouri business leaders, because your company directly benefited from financing provided by the U.S. Export-Import Bank.
The Ex-Im Bank gives U.S. companies a competitive edge and helps to level the playing field in an increasingly competitive global market. The authorization for the Ex-Im Bank is set to expire Sept. 30, unless action is taken by Congress. Without reauthorization, other companies in Missouri and across the nation will lack this important tool that helps the United States create jobs and compete in the global market.
The Ex-Im Bank supports U.S. jobs by helping finance foreign sales of American-made products through loan guarantees, direct loans and credit insurance, all at no cost to taxpayers. Since 2009, the Ex-Im Bank has supported $188 billion in U.S. exports and 1.2 million American jobs. Nearly $1 billion in export financing support has assisted Missouri companies. But the Ex-Im Bank has not just helped a few large multinational companies. Nearly 85 percent of businesses supported by the Ex-Im Bank are small and midsize businesses.
I strongly support the reauthorization of the Ex-Im Bank to help the thousands of Missourians who benefit from its services. This month, the Senate is expected to take up legislation to extend the authorization of the Ex-Im Bank. Without similar action from the House of Representatives, the authorization for the bank will expire, and U.S. businesses will lose this valuable resource. We cannot let this happen.
As a beneficiary of Ex-Im Bank financing, I have two requests for you today. First, that you share with my office how Ex-Im Bank financing has benefited your business (email
exports@mccaskill.senate.gov), so that I can continue to advocate for the reauthorization and passage of the legislation. Second, that you also share your story with others in your community. Without this reauthorization, other American companies will not have access to this important tool to grow their business, create jobs and compete globally.
—Claire McCaskill, U.S. Senator[[In-content Ad]]
