Exporter: Creative Teaching Press – Huntington Beach, CA
Destination: China, Korea, Japan, United Arab Emirates, Egypt
Transaction: Multi-buyer Insurance
Export Sales: $350,000 Credit Limit
Creative Teaching Press (CTP) is a family-owned and teacher-managed supplemental educational publisher for children ages 3–14, grades PreK–8. The company’s big break came in 1977 with the introduction of its innovative Scratch ‘n Sniff reward stickers. Market response to the stickers was phenomenal, with parents and teachers all over the world buying and collecting them.
The company has been using Ex-Im Bank since 2001 to grow its international presence to 10% of overall sales. Its multi-buyer insurance policy has given CTP the security to expand to different markets with the confidence that it will get paid.
“Knowing that our competitors do no currently insure their international receivable, absolutely gives us a competitive edge,” according to Susan Munoz, Credit Manager.