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Kostenski's company, Nationwide Equipment in Jacksonville, Fla., was left with a pair of bulldoz... Congress Pushes More Export
To Ex-Im's critics, the case two years ago is an example of the federal agency focusing too heavily on big business deals _ such as the billions of dollars in financing help for the sale of Boeing jetliners _ at the expense of smaller exporters.
"We have orders and orders because the dollar is weak, but since 2002, Ex-Im has just dried up," said Kostenski. "If Ex-Im doesn't take care of me, what incentive is there for me to export American-made products and create jobs at home?"
Charged with increasing U.S. exports, the Ex-Im Bank uses taxpayer dollars as credit to help American companies compete for sales with heavily subsidized foreign exporters, especially in places where business can be risky.
Bank spokesman Phil Cogan said the agency wants to reach out to more small exporters, and that 80 percent of all of its financing deals already go to small businesses. "I don't think 2,617 transactions demonstrates that Ex-Im has dried up as far as small business is concerned. Far from it," Cogan said.
The Senate is considering a bill, passed by the House in July, that would create within the bank a permanent small-business division with the power to approve loans, guarantees and insurance packages of up to $10 million.
Four year ago, Congress ordered the agency to give small businesses at least 20 percent of the credit it approves each year _ in the form of insurance and guarantees on private bank loans, or direct loans for buyers.
But the Government Accountability Office, Congress's auditing agency, says Ex-Im has never met the requirements. Credit to help smaller exporters reached 19.7 percent in 2003, but fell to 16.9 percent the next year.
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