A webinar for credit unions, “Export Financing for Your Small Business Members,” will be hosted Aug. 19 by the National Credit Union Administration (NCUA) and feature Export-Import Bank staff providing a look at the bank’s Working Capital Loan Guarantee Program.
The NCUA says this program provides a 90% guarantee against loans to exporters, and all EXIM-guaranteed loans are exempt from the credit union member business lending cap. The agency said EXIM staff will also discuss export credit insurance, which protects U.S. exporters against payment risk from their foreign customers.
NCUA Chairman Rodney Hood, in a statement, encouraged credit unions to participate in the webinar. “Our partnership with the Export-Import Bank opens new opportunities for credit unions to support their local businesses and communities,” Hood said. “Helping small businesses gain access to capital is essential, especially with today’s uncertainty.” (In June, the NCUA and the Export-Import Bank signed a memorandum of understanding that says the two will develop educational and training initiatives on export financing opportunities to share with credit unions.)
The Aug. 19 webinar is scheduled for 2 p.m. ET and expected to last one hour; registration is free.