Export Import Bank of the U.S. Celebrates Women’s Entrepreneurship Day by Marking Over 25 Years of Support for Women Owned Businesses

EXIM Has Supported Hundreds of Women-Owned Businesses Over the Last Decade

FOR IMMEDIATE RELEASE November 19, 2024

Washington, D.C. - The Export-Import Bank of the United States (EXIM) President and Chair Reta Jo Lewis reaffirmed EXIM's commitment to supporting women entrepreneurs and businesses across the nation on Women's Entrepreneurship Day. For more than 25 years, EXIM has provided critical resources and financing to help women-owned businesses compete in global markets, empowering them to expand, grow, and thrive internationally.

"Women-owned businesses are vital to the U.S. economy, and EXIM has long been a champion of women entrepreneurs, offering support and resources that help them achieve success in the global marketplace," said Chair Lewis. "EXIM helps level the playing field and create opportunities for women-led businesses so they can expand their businesses into new markets and support more American jobs. This is why one of my first orders of business as EXIM Chair was to create a new EXIM Council on Advancing Women in Business."

More than 10 million businesses across the country are owned by minorities or women, and they often face additional challenges when growing their businesses. That's why EXIM's Minority and Women Owned Business Division (MWOB) was established in 1999. The MWOB Division's dedicated business development team of specialists works directly with companies that are owned by minorities, women, veterans, people with disabilities, and the LGBTQ+ community as well as rural and startup businesses, helping them access EXIM financing and navigate the next steps on their exporting journey.

Over the last 25 years, EXIM has been a vital partner to hundreds of women-owned businesses, helping them achieve international success by providing export credit insurance, working capital guarantees, loan guarantees, and direct loans to help businesses grow and succeed in the global marketplace.

EXIM has provided support to hundreds of women-owned businesses and has leveraged EXIM's export credit insurance to mitigate risks and open new markets abroad, including:

• KOVAL Distillery, founded by Sonat Birnecker-Hart, produces organic spirits and liqueurs and has expanded to 55 countries. KOVAL has seen its exports increase to 30% of its total sales, with EXIM's support playing a key role in their international success.
• BNutty, founded by mothers Carol Podolak and Joy Thompkins, produces healthy nut-based snacks and now exports globally to countries such as Hong Kong, South Korea, and the Philippines, thanks to the backing of EXIM's export credit insurance.

EXIM is always looking for innovative ways for women-owned businesses like BNutty and KOVAL Distillery to access global markets. In April, EXIM introduced Equity Express Select (EQS) service, a fast-track insurance policy designed to help small businesses start or expand their exporting journey. And in 2022, EXIM created a new Council on Advancing Women in Business to provide recommendations on ways EXIM can reach more women in business and better consider equity goals set in the agency's strategy.

Women's Entrepreneurship Day (WED), celebrated globally on November 19, is dedicated to recognizing the achievements of women entrepreneurs and promoting economic empowerment through entrepreneurship. To mark the occasion, Chair Lewis addressed dignitaries and business leaders at the annual WED celebration at the United Nations on Friday, November 15. Chair Lewis was invited to participate by Women's Entrepreneurship Day Organization (WEDO)/#ChooseWOMEN, a 501(c)(3) grassroots movement dedicated to the economic empowerment of women globally. Celebrated in 144 countries, 65 universities and colleges, and at the United Nations, WEDO ignites women leaders, innovators, and entrepreneurs to start businesses, drive economic growth, influence policies, and uplift communities worldwide.

About EXIM:

The Export-Import Bank of the United States (EXIM) is the nation's official export credit agency with the mission of supporting American jobs by facilitating U.S. exports. To advance American competitiveness and assist U.S. businesses as they compete for global sales, EXIM offers financing including export credit insurance, working capital guarantees, loan guarantees, and direct loans. As an independent federal agency, EXIM contributes to U.S. economic growth by supporting tens of thousands of jobs in exporting businesses and their supply chains across the United States. Learn more at www.exim.gov. 

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