Abroad, Not Overboard
Ex-Im Bank financing lessens the risk of doing business abroad.
For exporter Michael Hainsworth, offering overseas buyers extended payment terms has become a competitive necessity. As a result, his family's company, Flare Industries Inc., has waited as long as a year to get paid for the equipment it manufactures for the oil and gas industries. "A lot of our clients these days are asking for very difficult payment terms--long payment cycles and very few milestone payments on large international projects," says Hainsworth, 31.