No matter how you slice it, there’s risk in doing business. Overseas or otherwise. There’s a chance that a new customer won’t or can’t pay. There’s a chance your shipment will get lost in transit. There’s a chance of any number of snags on the road to a profitable transaction.
The key is to minimize the risk.
Small Business Multi-Buy Credit Insurance can help do just that! EXIM (Export-Import Bank of the United States) protects exporter’s accounts receivable. According to EXIM.gov, small business owners can use Multi-Buyer Credit Insurance to:
- Extend credit terms to foreign customers
- Insure against nonpayment by international buyers
- Cover both commercial (e.g., bankruptcy) and political (e.g., war or the inconvertibility of currency) risks
- Arrange financing through a lender by using insured receivables as additional collateral
How does it work? Check out this quick video for an overview: