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Abroad, Not Overboard

Ex-Im Bank financing lessens the risk of doing business abroad.

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This story appears in the April 2008 issue of Entrepreneur. Subscribe »

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.

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