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Much of Ex-Im's criticism extends to financial risk to the taxpayer and the use of its programs by large U. "In an already hyper-competitive marketplace, this advantage gives foreign airlines a significant economic leg up over their U. counterparts." The largest user of Ex-Im bank since 2007 locally is Ford Motor Credit Co. "At its core, the Export-Import Bank is a mechanism for wealth redistribution from ordinary Americans to the politically connected and wealthy," he said in June on social media. Larger companies do receive larger sums of Ex-Im authorizations individually than small businesses, which may be an indicator of the amount of exports than favoring one over the other.Ex-Im has provided $850 million in loans to foreign buyers for Ford products. Of its $140 billion portfolio cap, Ex-Im approved a record high 3,413 small business authorizations in 2013 — which represented about 90 percent of its total authorizations, according to the bank.
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create some incentives for financial markets to lend to small business exporters." Nevertheless, exports continue to play a larger role in the state's economy. Goods exported from metro Detroit represented 72 percent of all Michigan exports last year and supported 288,967 jobs.
The Detroit-Warren-Dearborn region registered .9 billion in goods exports in 2013, ranking the metro area fifth in the nation, according to data released last week by the U. However, Ex-Im only supported 4 percent of exports in the state — something naysayers have pointed out. "There are about 60 export credit agencies around the world, all vying to support their companies and their jobs.
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