PROVIDENCE, RI -- In an effort to support Rhode Island businesses and workers and strengthen U.S. supply chain resiliency, U.S. Senator Jack Reed hosted Export-Import Bank of the United States (EXIM) First Vice President and Vice Chair Judith Pryor this week for a panel discussion about how local companies can reach foreign markets.  Ms. Pryor helps lead the nation’s official export credit agency, which assists American companies that export products to overseas markets by providing loans, loan guarantees, and other financing to encourage foreign purchases of American-made goods.

The roundtable discussion was also attended by U.S. Senator Sheldon Whitehouse; U.S. Representatives Jim Langevin and David Cicilline; Greater Providence Chamber of Commerce president Laurie White; Ryan Clark, President and CEO of The Town Dock; and a variety of Rhode Island business leaders, including members from the Rhode Island Manufacturers Association; RI Black Business Association; Hope & Main, the Rhode Island Society of CPAs; and other business organizations.

“I’m always seeking opportunities to help Rhode Island businesses compete, grow, and find new customers, and in today’s economy, there’s a renewed focus on strengthening supply chains at home and selling products abroad.  But how do local companies find those opportunities?  The Export-Import Bank is an excellent resource for local exporters.  This roundtable will help more Rhode Island businesses navigate complex, dynamic markets and leverage EXIM tools and services to expand their businesses,” said Senator Reed.

The discussion focused on how Rhode Island companies can utilize EXIM’s services, as well as U.S. manufacturing, international trade, and helping American companies of all sizes compete for sales overseas.  Speakers also highlighted support for reshoring U.S. manufacturing jobs through EXIM’s Make More in America Initiative, which offers a new funding option for U.S. manufacturers that support U.S. exporters in critical areas such as renewable energy, energy storage, and sectors critical to national security.

“On behalf of everyone at the Export-Import Bank of the United States, I thank Senator Reed and the Rhode Island delegation for facilitating a great discussion on supporting U.S. exports. Working with our federal, state, and local partners, EXIM is committed to helping more Rhode Island small businesses access financing solutions that enhance their competitiveness in the global marketplace,” said EXIM Vice Chair Judith Pryor.

“With the help of EXIM, local Rhode Island businesses have an improved chance to secure sales from other countries which were not previously accessible,” said Ryan Clark, President and CEO of The Town Dock, a Rhode Island foodservice and retail calamari company. “For The Town Dock, using EXIM was extremely beneficial in being able to provide insurance for select international export sales.”

During the roundtable, Vice Chair Pryor fielded questions relating to exports and financing from attendees and explained how EXIM can assist Rhode Island companies.

Since 2014, EXIM has supported approximately $64 million in authorizations in Rhode Island.  Authorization are the dollar amount that EXIM has agreed to insure or finance (through an insurance policy, loan guarantee, or direct loan).  The top export destinations for these EXIM supported sales were Canada, Turkey, and Mexico.

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.  Since 1992, EX has generated more than $9 billion for the U.S. Treasury for repayment of U.S. debt.  Learn more at: www.exim.gov