Exporter: Bassetts – Philadelphia, Pennsylvania
Jobs Supported: 2
Bassetts Ice Cream Company, founded in 1861, is a full-service frozen dessert distributor to restaurants, hotels, supermarkets, dipping parlors, and caterers. Yet, it did not export until 2008 as Bassetts’ president was not comfortable selling to customers abroad without getting receivables insurance. Now, with the help of an Ex-Im Bank’s single-buyer policy, exports to China make up 20 percent of the ice cream wholesaler’s business.
The 20-employee company is also exploring selling to the Taiwan market, has had conversations with prospects in Vietnam and Japan, and looks forward to exporting to the Bahamas. With such a planned expansion, the company is considering Ex-Im Bank’s working capital loan guarantee product.
"Our business is growing because of exports. This has helped us maintain jobs, and I have no doubt we will add jobs in the future." said President Michael Strange. "Already one of our suppliers in Johnstown, Pennsylvania, which produces our super-premium ice cream according to our recipe, has added staff to its production operation,"