Exporter: Davex Labs LLC - Santa Monica, CA
Export Sales: $5,400
Davex Labs sell a line of hair care products exclusively to salon professionals and could not obtain export credit insurance to cover a $5,400 sale to Russia. Ex-Im took the risk for this single-buyer transaction and now Davex is considering a multi-buyer insurance policy to cover all of its international sales.
Ex-Im gave Davex the same level of service and commitment we give to large companies and large transactions because no transaction is too small for our support. With 50% of its sales coming from overseas, this company intends to double sales over three years and to begin targeting Germany, Italy, China, Switzerland, and Australia.
“The ability to extend credit on international sales allows us to grow our business in existing international markets and export our products to new markets by giving our local distributors more flexibility to invest and market our products locally. Credit terms provide our local distributors in these markets to better compete, so it makes our U.S. made products more competitive locally,” said David Berglass, CEO.