EXIM Honors Hispanic Heritage Month with Exporting Tools

Hispanic Heritage Month honors Americans whose ancestors came from Spain, Mexico, the Caribbean, and Central and South America. The Export-Import Bank of the United States (EXIM) joins in celebrating the histories, cultures, and contributions of these Americans who help the nation grow and prosper.

To honor that legacy, EXIM President and Chair Reta Jo Lewis is presenting a special message from EXIM to celebrate Hispanic Heritage Month, underscoring EXIM's commitment to prioritizing inclusiveness.

EXIM President and Chair Reta Jo Lewis celebrates Hispanic Heritage Month.You also can view her message here.

Creating Opportunities for Hispanic-Owned Businesses

According to the most recent data from the U.S. Census Bureau, the number of Hispanic-owned businesses continues to increase:

• There were 4.6 million total Hispanic-owned businesses, including both employer and nonemployer businesses.
• Those businesses accounted for an estimated $729.4 billion in annual receipts.

To help spread the word about EXIM financing to underserved communities, EXIM's Minority and Women-Owned Business Division (MWOB) works directly withcompanies 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.The MWOB Division is celebrating its 25th anniversary in 2024.

As part of those efforts, EXIM recently launched an innovative new product - the Equity Express Select (EQS) export credit insurance policy, an insurance tool created to help underserved companies begin or expand their export business.

The EQS insurance product is designed to help qualifying businesses start or expand their exporting journey and then graduate to one of EXIM's other export credit insurance products. It is supported by an in-house customer service team that will guide companies through the application and servicing process.

Celebrating Hispanic Culture and Heritage

The annual event began in 1968 as Hispanic Heritage Week under President Lyndon Johnson, and it was then expanded by President Ronald Reagan in 1988 to cover a 30-day period starting on September 15 and ending on October 15. It was enacted into law on August 17, 1988.

The observance starts on September 15, a historically significant day that marks the anniversary of independence for five Latin American countries: Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua. The designated period is also a nod to those from Mexico and Chile, which celebrate their independence September 16 and September 18, respectively.

In proclaiming Hispanic Heritage Month, President Joe Biden honored generations of Latinos, who embody the possibilities of America and the dreams of those who work to build a better future.

"In our country, Latino leaders are striving for the American Dream and helping those around them reach it too. From those who have been here for generations to those who have recently arrived, Latinos have pushed our great American experiment forward," said President Biden.

To find out how EXIM can help your business compete in the global marketplace, schedule a free consultation with a member of the MWOB team and launch your export journey today.

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