NGLCC Calls of Congress to Reauthorize the Ex-Im Bank

At midnight on June 30, 2015 the Export Import Bank (Ex-Im) Charter expired. The Ex-Im serves as an equalizer for U.S. companies bidding on foreign contracts. Without the monetary advantage provided by Ex-Im, many U.S. businesses, and small businesses in particular, will be unable to compete with foreign exporters. Recent studies suggest that 98% of exports in the U.S. come from small and medium sized business. These U.S. companies need to stay relevant in the global economy by competing on merit rather than cost. NGLCC seeks to protect the interests of their Certified LGBTBE® suppliers by making sure that all LGBT-owned small businesses are given the opportunity to win contracts, grow their businesses, and create jobs.

 

David Schellenberg, Owner and CEO of Certified LGBTBE®, LinguiSearch, shared his concerns about the termination of the Ex-Im charter. LinguiSearch was recently given the opportunity to contract with a foreign company. However, without the support Ex-Im offers, LinguiSearch cannot afford this opportunity. The contract represents a 10% increase in sales and the prospect of two new full time employees. For a three-employee business enterprise, this contract means a new chapter of growth.  Many Certified LGBTBE® suppliers may find themselves in similar situations, or will in the future, and NGLCC wants Certified LGBTBE® suppliers to be able to take every opportunity available. For these reasons, NGLCC wholeheartedly supports a timely, long-term renewal of the Ex-Im Charter and asks that you reach out to your representative and urge them to support the reauthorization of the Export Import Bank.

 

You can also show your support on Twitter, @eximbankUS, #exim4jobs. While there, be sure to follow @nglcc using hashtags #lgbtbiz and #nglccGlobal.