The chairman of the Export-Import Bank of the United States will lead a forum on small-business exporting on Monday, aiming to provide local entrepreneurs with information about boosting export sales.
Fred P. Hochberg, chairman and president of the Ex-Im Bank, and Rep. Steve Israel (D-Dix Hills) are hosting the event at 9 a.m. at the Long Island Association in Melville. Industry and government experts will also be at the forum to help educate local small businesses about export opportunities, the bank said.
The Ex-Im Bank, an independent federal agency, provides export financing, including loans, loan guarantees, insurance against a foreign buyer’s failure to pay as well as credit and financing for buyers.
President Barack Obama Wednesday signed legislation that renews the charter of the Export-Import Bank and increases the bank’s lending cap to $140 billion from the current $100 billion.
Previous legislation renewing the bank’s charter had been uneventful, but this time around it met resistance from conservative groups saying that the bank distorts markets.
On Long Island, the bank has backed about $252.8 million in loans since 2007.