| Some Small Businesses That Grew in 2009 | |
| Jan 20, 2010 | |
| Air Tractor, which manufactures crop dusters and other agricultural aircraft in rural Olney, Tex., has been able to duck much of the current economic turbulence because it sells its specialized planes around the globe. | |
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(Excerpt from the New York Times) While selling in foreign markets has risks, small businesses like Air Tractor have been able to establish footholds abroad by relying on the Export-Import Bank of the United States to ensure they are paid for the goods and services they sell outside the United States. “Without the Ex-Im Bank’s guarantee, there would be a significant difference in the deals we can make,” said David A. Ickert, the company’s vice president for finance. “We have been surviving and thriving because of exports.” Air Tractor has been exporting its planes for agricultural seeding, fertilizing and spraying since 1995, when it sold its first two aircraft in Spain. Since then, overseas sales have been a boon to a company that employs 200 people in a town with 3,400 residents. The company has tapped into the little-known services that the federal government provides to American exporters by compiling research and information about markets in foreign countries and by helping companies with financing. The Export-Import Bank, which is the official American export credit agency, guarantees loans and provides insurance and direct loans. The Commerce Department and all 50 states also offer help. Click Here to read the rest of the article. |
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