The Export-Import Bank of the United States (EXIM) has announced support measures for U.S. exporters, financial institutions, and businesses impacted by Hurricanes Milton, Helene, and other recent weather events. These measures aim to ease the operational and financial burdens on participants in EXIM’s programs located within FEMA-declared federal disaster areas.
Read also: ALAN Mobilizes for Hurricane Milton as Supply Chain Prepares for Another Major Storm
“Our priority is to support our customers and lenders as they navigate the challenges brought by these severe weather events,” said EXIM Chair Reta Jo Lewis. “We are offering flexibilities to help those affected focus on safety and recovery.”
Relief Measures for Businesses and Lenders:
EXIM’s assistance includes several accommodations to help businesses resume operations without penalty for missed deadlines:
Working Capital Guarantee Program
1. Automatic loan facility extensions of up to 180 days for loans maturing during the disaster period.
2. Additional 180-day extensions for loan facility fee payments upon request, with the possibility of fee waivers under exceptional circumstances.
3. Waivers for noncompliance with program requirements and for defaults related to nonpayment of interest, inventory losses, or sales disruptions for up to 180 days.
Short- and Medium-Term Insurance Programs
1. Automatic policy renewals for multibuyer policies expiring during the declared disaster period.
2. Extensions of shipment reporting and premium payment deadlines by up to 180 days from the disaster start date.
These temporary measures align with EXIM’s policy of providing aid to customers in disaster-affected areas across the U.S. The agency encourages participants to review the full list of current relief measures available on its Fact Sheet.
By offering these accommodations, EXIM aims to help businesses and financial institutions weather the disruptions caused by Hurricanes Milton and Helene and return to normal operations as soon as possible.
