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Ex-Im Bank Insurance Policy Allows Newark Small Business to Sustain and Create Jobs
Finance and Insurance
Exporter: Delaware Intercorp – Newark, Delaware Destination: China & Taiwan Ex-Im Bank Product: Multi-Buyer Insurance Jobs Supported: 12 Delaware Intercorp, a small business that provides professional services and corporate documentation, has retained 11 employees and is about to hire one more as a result of its partnership with Ex-Im Bank. Also, the company's sales increased approximately 5% since joining Ex-Im Bank in 2008. Delaware Intercorp was most recently authorized a $100,000 multi-buyer insurance policy from Ex-Im Bank and has seen growth in their major export markets, China and Taiwan. One benefit of the policy is Ex-Im Bank assumes the credit and country risks that the private sector is unwilling or unable to accept. "We are very fortunate," said the company's president Russell Rozanski. "What Ex-Im insurance policy has done for us is extend more competitive terms to buyers and mitigate our risk and it has absolutely contributed to our growth."